Construction equipment sale heads for 30% growth

    Anand Sundaresan Vice-Chairman and MD, Schwing Stetter (India)
    Construction equipment sale is expected to grow at 30 per cent this fiscal, Vice-Chairman and MD, Schwing Stetter (India), Anand Sundaresan, said, elaborating that nearly 68,000 units were sold last fiscal. In 2011, the infrastructure sector had reported its best numbers with nearly 70,000 units sold. Growth in infra is expected to be back especially with the government’s focus on the sector and in view of this, the industry is heading for 30 per cent growth in sales of construction equipment over last fiscal. While the initial disruptions caused by GST seem to be settling down and construction equipment finance companies witnessing a 25 per cent month-on-month growth in disbursements in August-September period, the high rate of taxation continues to be a major worry. Tax, on construction equipment, stands at 28 per cent, which is on the higher side and the industry has represented to the government through various bodies and in individual capacities to bring the rates down to 18 per cent, he added.
     
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