Driving home his viewpoint he added that CNH has always stressed and laid strong emphasis on utilizing its manufacturing strength as a competitive edge in its various areas of operations. In view of this, Case India has undertaken a major initiative to integrate its Pithampur plant with global industrial footprint by way of leveraging global expertise to push processes, product quality, reliability and providing unmatched operating efficiencies. And to achieve it's laid down targets, Case gives lot of importance to training and developmental programs and has put in place a highly committed and dedicated team of technical trainers with an exclusive center for training and development located at its Pithampur plant in Madhya Pradesh. Under its training programs, it imparts training adding to the developmental knowledge of its dealers and alongside also conducts customized and tailor-made training mechanism matching to the requirement of its customers.
Sharing his viewpoint about the business potentials, he said claiming that the growth of construction equipment industry depends largely on the pace of project execution in infra and allied sectors. The demand for the supply of equipment increases with the enhanced speed of the execution of infrastructure projects. As of now, issues including land acquisition, skyrocketing interest rates and delays in approvals have adversely impacted the pace of project execution. Apart from this, other factors including rising input costs, increase in fuel prices and depreciation of rupee have also taken their toll on the market. However, as the government has targeted a whopping $1 Trillion spend on infrastructure sector, the mid and long-term outlook for the Indian Construction equipment industry remains vibrant and bullish.
There is no doubt that the slowdown has currently pushed the equipment industry on the slippery ground for the short duration but the equipment demand is set to bounce back with a bang all due to government's repeated reiteration of providing the added impetus to the Infrastructure projects through various policy initiatives. In view of the given scenario, we need to provide extra support to the existing equipment fleet of our customers to further help them improve their fleet utilization and on this score, we will keep putting our best efforts to strengthen our network to provide best value to our customers. Moreover, the devaluation of rupee and higher interest rates of late have posed a major challenge for construction equipment industry to maintain its cost competitiveness amidst tough competition. We took up this challenge by minimizing our import content and thereby shielding ourselves to a large extent from currency fluctuations. We also undertook several cost optimization measures to keep our cost in check and also keeping a constant vigil on our working capital in order to contain the impact of higher interest rates.