Leverage technology to cut construction equipment cost: Gadkari

construction sector
The Union road transport minister, Nitin Gadkari called upon private players in the construction industry to focus on mechanization, adoption of advanced technologies and global best practices, usage of LNG and bio-fuels, and innovations in using waste materials as raw materials for their construction projects to reduce the cost of construction and pollution. He stated this while addressing the gather shortly after inaugurating the 10th edition of CII's construction equipment trade fair – Excon 2019 in Bengaluru. There are large number of projects under waterways, airports, ports, and smart cities, but private sector should focus on bringing down the cost of construction and pollution only then they can do brisk business. The construction equipment industry can hope to expect a 40 per cent increase in sales in the near future, as the Central government is investing huge amounts in road and other infrastructure projects. He further said adding that PM's vision is to make India a $5-trillion economy and to achieve this the government is embarking on major infrastructure and industrial projects worth ₹100 lakh crore.

He further claimed revealing that in the road sector alone, the Centre is investing ₹2 lakh crore this year. The amount of investment for the next year will increase to ₹3 lakh crore and within the next five years, the total government's spend on the road infrastructure will be about ₹17 lakh crore. Karnataka Chief Minister BS Yediyurappa said that Karnataka is an emerging hub for construction equipment, component outsourcing and design base. The State offers huge business opportunities for the construction industry, as it is embarking on major infrastructure development projects in roads & flyovers, industrial infrastructure and power. While President, CII, Vikram S Kirloskar, in his address said the cost of doing business in India is set to come down as the government is keen on rebooting the infrastructure in roads, ports, railways, waterways by fast-tracking infrastructure projects. The construction equipment industry can face the tough market situation prevailing now by focusing on being ready for Industry 4.0 and reinventing itself. In his special speach, Founder, Chairman Wipro, Azim Premji, insisted that a well-planned, modern infrastructure is extremely important for India to achieve its $5 trillion target. Currently, India spends about 5 per cent of its GDP towards infrastructure development and the country should increase it to at least 6 per cent, which is what China spends for its infrastructure development.

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