EXCON: A global platform for component makers

EXCON: A global platform for component makers
South Asia’s largest construction equipment fair organised by the CII witnessed the participation of large number of global and domestic players in the components, accessories and aftermarket segment. The combined Indian Construction Equipment (ICE) market including construction equipment, spares, service and exports stood at USD 5.8 bn in 2016-17 is likely to touch USD 10.5 bn by 2021-22 according to CII-ICEMA Report on Indian Construction Equipment Industry released during CII EXCON 2017. The overall market for spares for earth moving equipment in FY 2016-17 was in the range of INR 4,000 - 4,300 Crores. The spares market is expected to go up to INR 5,800 Crores by FY 2022 with the allied services business to be pegged at INR 800-850 Crores giving a huge opportunity for growth of the components industry.

CII EXCON 2017 aimed leveraging this gradual shift in the market dynamics by providing an international platform for local component manufacturers to showcase their offering to a global audience. The South and West India are hubs for such component manufacturing with a good mix of domestic and MNC players. Tamil Nadu, a leading hub for automotive manufacturing and spares is also becoming the preferred destination for Construction Equipment component manufacturing. The road ahead for component manufacturers is to work more closely with OEMs and the initiatives like ‘Make in India’ and rolling out of GST would provide the much fillip for the robust growth of the component manufacturing industry.

Mr. Pratik Kumar, CEO & Executive Director, Wipro Infrastructure Engineering, said, "To a significant extent, the component industry mirrors growth that the OEMs experience. The growth of Indian construction equipment industry has positive impact on the component industry since it is very closely interconnected and interdependent with OEMs. The component industry is expected a CAGR of about 12% as compared to last year’s growth at 5-8%. Over the next few years, we’ll see a lot of component companies focusing on bringing in new technologies, new processes, building capacity and benchmarking with global best practices on quality in the most cost effective manner. This not only positions the demands of the Indian market but also to be strong contributor to the export market as well".

Mr. M. Seethapathy Rao, Chairman & Managing Director, Hycom Engineering India Pvt. Ltd., said, "I have been associated with EXCON since its 1stedition and this year has turned out to be the best edition ever. The premise is that component is where technology is built for the equipment. The component sector is the one which can explore products. Most construction equipment manufacturers are in India and the main emphasis is on it so that the ‘Make in India’ campaign can be fulfilled. The construction equipment industry is likely to grow around 15-20 % and so will the components industry grow accordingly."

CCEA approves ₹33, 690-cr for urban infra in Mumbai

The Cabinet Committee on Economic Affairs, which spearheaded by PM, recently approved Phase-III-A of the Mumbai Urban Transport Project involving an investment of ₹33,690 crore and the project is expected to be completed in the next five years Read More ...

DMRC delivers DPR for ₹3,300-cr twin metro corridors

The Delhi Metro Rail Corporation (DMRC) has submitted revised project reports for the Noida-Ghaziabad twin metro corridors involving about ₹3,300 crore investment. As per the revised DPR for the two Blue Line Metro extensions, Phase-3 involves Read More ...

PFC fires ₹28,500-cr in water infra projects in Telangana

In an encouraging development, Power Finance Corporation (PFC) has recently agreed to extend funds worth ₹28,500 crore for twin water infra projects in Telangana, PFC Chairman Rajeev Sharma said adding that in the first case the PFC agreed in principle Read More ...

Konkan Railway gets ₹600-cr for tunnel project

The state government in Kerala has selected Konkan Railway Corporation to execute the Wayanad-Kozhikode tunnel road, an alternative to the ghat road connecting Kozhikode and Bengaluru through Wayanad for which the state government has already Read More ...

NHAI unveils four-lane highway project in TN

In a booster to economic and industrial growth in Tamil Nadu, NHAI has decided to build a new 45.85 km 4/6-lane national highway from Melur in Madurai to Karaikudi in Sivaganga district under the Centre‘s flagship Bharatmala project. The traffic Read More ...

Pune Metropolis gets ₹1,722-cr funding booster

The state government in Maharashtra has made a provision worth ₹1,722 crore for the Pune Metropolitan Regional Development Authority (PMRDA) of which ₹320 crore has been allocated for the town-planning schemes undertaken by the nodal agency Read More ...

Hines in JV launches ₹1,900-cr project in Gurgaon

The US-based Hines group has recently entered in a joint venture with DHDL, a subsidiary of the country’s largest realty builder DLF, to jointly build ₹1,900 crore in the real estate project in Gurgaon. In this connection late last year Read More ...

NHAI takes up four-lane highway widening works

In a bid to ensure smooth movement of vehicular traffic on the Mettupalayam Road (NH-67) from Perianaickenpalayam to Mathampalayam, the NHAI has recently taken up the four-lane expansion work. The work on the 6.1km stretch for which an agreement Read More ...

GST Council offers two options for realtors

The GST Council in its recent decision has stated that real estate developers with unsold housing inventories can now choose either the old rate or the new one if the project is still under construction as on March 31. The decision also cleared Read More ...

NCR & MMR lead the way in affordable housing

According to ANAROCK Property Consultants' latest report 'Affordable Housing, the Delhi NCR and Mumbai Metropolitan Region account for 55% share of total 6 lakh affordable units launched across the top 7 cities in the country. NCR saw maximum supply Read More ...

ASK injects ₹326-cr in a real estate projects

Ensuring smooth flow of funds to the on-going real estate projects, ASK group via its private equity arm will invest ₹326 crore in housing projects being developed by QVC Realty, Tridhaatu and TVS Emerald. These projects are located in Mumbai Read More ...

Railway rolls out ₹894-cr cross-country bridge ventures

In order to avoid trains stopping at signals, the Indian Railways has decided to build 250 ROBs and RUBs at busy railway junctions identified across the country, and construction is set to start shortly. The ₹894.47 Read More ...

GDA goes for ₹649-cr Hindon-DND flyway project

Ghaziabad Development Authority has decided to build an elevated road starting from Hindon to Noida's DND flyway at an investment of ₹649 crore. Consultants hired for preparing a feasibility report, have recommended Read More ...

New policy to resolve ₹30,000-cr stalled NH projects

In a bid to unlock the money of lenders and private players, including the crisis-hit ones, the transport ministry has unveiled a policy for resolving stalled highway projects worth ₹30,000 crore. Agencies such Read More ...

Shapoorji Pallonji wins 7 Awards from CIDC

Shapoorji Pallonji's Engineering & Construction (SP E&C) Division has won 7 Achievement Awards for Construction Health, Safety & Environment (CODE – I). The Organization was recognized by the Construction Read More ...

Eicher Trucks & Buses Plans to Expand its presence in the African Market

Eicher Trucks and Buses commemorated the long-standing association with the Africa region with its participation at the 14th edition CII- EXIM Bank Conclave on India Africa Project Partnership at Taj Diplomatic Read More ...
NBM&CW

New Building Material & Construction World

New Building Material & Construction World
MGS Architecture

Modern Green Structures & Architecture

Modern Green Structures & Architecture
L&ST

Lifting & Specialized Transport

Lifting & Specialized Transport
II&TW

Indian Infrastructure & Tenders Week

Indian Infrastructure & Tenders Week