ICEMA CE Summit Charts Path to $25B Market

The 2nd CE Manufacturing and Supply Chain Summit, organized by the Indian Construction Equipment Manufacturers Association (ICEMA), brought together industry stakeholders, policymakers, and thought leaders to discuss the future of the Construction Equipment (CE) manufacturing sector in India. The theme was “Towards Making CE Manufacturing Future-Ready” and key topics included technology-driven transformation, sustainable equipment, and building a resilient supply chain.

The 2nd CE Manufacturing and Supply Chain Summit

“The impact of the Construction Equipment industry, as it facilitates infrastructure development in the country, is much more than what the industry numbers show,” said Mr. Vinod Sharma, Member Executive Committee – ELCINA (Electronic Industries Association of India) and Managing Director – Deki Electronics Ltd, during his Special Address at the 2nd CE Manufacturing and Supply Chain Summit organized by the Indian Construction Equipment Manufacturers Association (ICEMA) – an affiliated body of CII. Mr. Sharma further elaborated upon the journey of the Electronics sector, with learnings for the CE industry, as well as on the scope for synergies between the two sectors as Construction Equipment manufacturing moves into a tech-enabled, automated future growth path.

Construction Equipment (CE), which accounts for approximately 20–30% of the investment in a typical infrastructure project, is a critical enabler of the infrastructure sector which helps connect the remotest corners of the country, bringing them into the mainstream of economic growth. The CE Vision Plan 2030, which targets a 14% CAGR to triple the industry’s market size from its current USD 8.5 billion to 25 billion, and its global ranking from third to second by the end of the decade, hinges critically upon the ability of CE manufacturing to meet future demand in terms of both, quantities and the evolving requirements for new-age machines with advanced technologies and a strong component of environmental responsibility.

Commenting upon the importance of adopting advanced technologies holistically, in the context of making the CE supply chain resilient and robust, as well as with regard to emerging as a global CE manufacturing hub, Mr. V. Vivekanand, President ICEMA and Managing Director, Caterpillar India Pvt. Ltd. said, “A vibrant CE manufacturing sector is not only about building capacity, but also capability as we need to become globally competitive to be able to emerge as truly resilient. For this we need to embrace technology holistically.” In this context Mr. Vivekanand alluded to the CE Technology Vision Roadmap 2035 recently released by ICEMA, which defines how the technologies driving the Construction Equipment industry will change between now and 2035.

The proceedings of the Summit also generated consensus on the criticality of creating a facilitative environment to strengthen MSMEs which manufacture around 90% of CE components, accompanied by incentives such as PLI scheme, which would go a long way towards bolstering the localization efforts of the industry.

“There is a strong imperative for strengthening MSMEs as well as for attracting FDIs into the industry to boost domestic manufacture, especially of high precision, high value components for which we are heavily import dependent currently. ICEMA has submitted a PLI proposal for the CE industry to the Government, which is now at an advanced stage of consideration", said Mr. V. G. Sakthikumar, Convener, ICEMA Manufacturing & Supply Chain Panel, Treasurer ICEMA and CMD, Schwing Stetter India Pvt. Ltd. in his welcome address at the Summit. "As the industry undergoes transformation to become future-ready, these initiatives will enable creation of a supportive ecosystem and a robust supply chain to propel the manufacturing sector on a high growth path,” he added.

The Summit also featured a localisation zone to display CE components that have been identified for localisation by the industry. This feature provided CE manufacturers and suppliers an opportunity to evaluate the possibilities of collaborating with industry leaders for domestic manufacture of critical components that would strengthen the CE industry’s supply chain.

A Report on the CE industry, developed by ICEMA in collaboration with ICRA and Invest India was released during a Special Session at the Summit, along with the Purchasing Managers’ Index developed for the CE industry.

In the course of the panel discussions subject experts from research institutes present at the Summit contributed insights on the need for industry-academia connect to encourage innovation and excellence in research, to come up with product offerings and manufacturing practices that can hold their own in terms of global quality standards. The panelists from OEMs shared information and opinions on their own experiences and expectation in technology adoption and collaboration with academia and research institutes.

The deliberations of the Summit further shed light upon the skilling initiatives for industry. Besides industry-specific programs and state-of-the-art training facilities, efforts are also underway to reorient the workforce to bridge differences of perspective across age groups as well as to induct more women for greater inclusivity. Attracting quality workforce into the sector also emerged as an urgent need to make the industry future-ready.

With regard to producing modern, agile and sustainable equipment to align with the expectations of future consumers as well as the global imperative for achieving carbon neutrality, Mr. Vivekanand emphasised the need to interoperability of equipment for smart jobsite solutions and said that the sustainability component needs to go beyond alternate fuels, to encompass a ‘cradle to grave’ approach, i.e., environmentally responsible choices from equipment design, right up to the recycling stage.

During the panel discussion on resilient supply chain for future growth of the CE industry, Ms. Supriya Devasthali, Director – Department for Promotion of Industries & Internal Trade, Government of India, shared the initiatives and future plans of the government for supporting the creation of a robust manufacturing ecosystem for Construction Equipment by supporting MSMEs, incentivising domestic production of critical components and attracting investments into the sector.

“The Construction Equipment industry is one of the few industries with a forward-looking Vision Plan, not only for growth but also for technology adoption," said Mr. Jaswinder Singh Bakshi, Vice President- ICEMA and Senior Vice President - Tata Capital Financial Services Ltd., as he delivered the Vote of Thanks in the Opening Session of the Summit. Expressing his confidence in the ability of the Indian CE industry to become number one globally, as envisaged by the Hon'ble Minister, MoRTH, Shri Nitin Gadkari ji, Mr. Bakshi added, "ICEMA has also been working proactively to provide financing solutions for Construction Equipment manufacturers as part of the endeavour to catalyse a conducive environment to boost CE manufacturing and a resilient supply chain for the industry".
South Eastern Railway Floats Tender for Construction Projects in WB

South Eastern Railway Floats Tender for Construction Projects in WB

The South Eastern Railway (SER) has issued a tender for the construction of various structures in West Bengal, in connection with the Deshpran-Nandigram new Broad Gauge rail line. The scope of work includes a minor bridge, toe

Read more ...

ArcelorMittal Nippon Steel India Plans Rs 85 Bn Fundraise for Expansion

ArcelorMittal Nippon Steel India Plans Rs 85 Bn Fundraise for Expansion

ArcelorMittal Nippon Steel India is in discussions with banks to raise approximately Rs 85 billion (USD one billion) to support its expansion plans. State Bank of India, ICICI Bank, and Axis Bank are among the lenders expected

Read more ...

K Raheja Corp to Redevelop SOBO Central Mall into Luxury Residences

K Raheja Corp to Redevelop SOBO Central Mall into Luxury Residences

K Raheja Corp plans to transform SOBO Central Mall, India's first mall, into a luxury residential project, according to sources familiar with the matter. Located on a 1.3-acre site in the prime Haji Ali area, the redevelopment

Read more ...

Gerrit Marx Appointed as CEO of CNH Industrial N.V.

Gerrit Marx Appointed as CEO of CNH Industrial N.V.

CNH Industrial N.V. has announced the appointment of Gerrit Marx as its new CEO, effective from July 1, 2024. He will succeed Scott Wine, who will depart at the end of the current three-year business plan cycle to pursue other

Read more ...

MMRDA Implements Heat Safety Measures for Construction Workers

MMRDA Implements Heat Safety Measures for Construction Workers

The Mumbai Metropolitan Region Development Authority (MMRDA) has introduced measures to protect construction workers from high temperatures during summer. With rising temperatures and a severe heat wave alert in the Mumbai

Read more ...

MoRTH Invites Tender for Two-Laning of Bero-Khunti Section in Jharkhand

MoRTH Invites Tender for Two-Laning of Bero-Khunti Section in Jharkhand

The Ministry of Road Transport and Highways (MoRTH) has issued a tender for the two-laning of the Bero-Khunti section in Jharkhand. The project involves widening or reconstructing the road to two lanes with paved shoulders from

Read more ...

Sundream Group to Invest ₹250 Cr in Anthurium Business Park 2nd Phase

Sundream Group to Invest ₹250 Cr in Anthurium Business Park 2nd Phase

The Sundream Group plans to invest ₹250 crore in the second phase of Anthurium Business Park in Noida, Uttar Pradesh, during this financial year. This investment is in addition to the ₹250 crore already invested in the project's

Read more ...

Mahindra Logistics launches skill development training centers

Mahindra Logistics launches skill development training centers

Mahindra Logistics Limited has planned to launch nationwide Community Centers of Excellence (CCoE) in partnership with Logistics Skill Council to address the shortage of skilled workers in the logistics sector. These centers will provide

Read more ...

Bigbloc Building Elements Plans 625 KW Solar Project at Wada Plant

Bigbloc Building Elements Plans 625 KW Solar Project at Wada Plant

Bigbloc Building Elements Pvt Ltd, a subsidiary of BigBloc Construction Ltd, plans to install a 625 KW rooftop solar power project at its Wada Plant in Palghar, Maharashtra, with an investment of ₹2.5 crore. This initiative aligns with

Read more ...

NHAI to Monetise 2,741 km Highway Stretches Through TOT & InvIT Modes

NHAI to Monetise 2,741 km Highway Stretches Through TOT & InvIT Modes

The National Highways Authority of India (NHAI) has earmarked 33 highway stretches, totaling 2,741 kilometres, for monetisation in the current financial year through Toll Operate Transfer (TOT) and Infrastructure Investment Trust (InvIT)

Read more ...

Walplast Expands Manufacturing Capacity with 2 New Plants in South India

Walplast Expands Manufacturing Capacity with 2 New Plants in South India

Walplast Products Pvt. Ltd, a leading building materials producer and the third-largest Wall Putty manufacturer in India, has expanded its manufacturing capacity with two new plants in Chennai and Perundurai, Tamil Nadu. Specializing

Read more ...

Capacit'e Infraprojects Secures ₹549 Cr Orders in Mumbai & Thane

Capacit'e Infraprojects Secures ₹549 Cr Orders in Mumbai & Thane

Capacit'e Infraprojects has won orders totaling ₹549 crore from Macrotech Developers in Mumbai and Raymond in Thane, Maharashtra. The ₹256 crore contract with Macrotech Developers is for a luxury residential project in Mumbai's

Read more ...

SDLG Inaugurates Wheel Loader Manufacturing Facility in Bengaluru

SDLG Inaugurates Wheel Loader Manufacturing Facility in Bengaluru

SDLG, a member of the Volvo Group, specializes in sustainable solutions for construction, earthmoving, infrastructure, and mining projects. Operating in India since 2009, SDLG has made significant contributions to the construction

Read more ...

Doka Acquires Malaysian based MFE Formwork Technology

Doka Acquires Malaysian based MFE Formwork Technology

Doka, a global leader in formwork and scaffolding, has merged with Malaysian-based MFE Formwork Technology, a market leader in monolithic aluminium formwork. Together, they have become a major player in the Asia-Pacific region

Read more ...

Domestic MCE Industry Volumes to Decline by 12-15% in FY2025: ICRA

Domestic MCE Industry Volumes to Decline by 12-15% in FY2025: ICRA

ICRA projects the volumes of the domestic MCE industry to decline in FY2025 following two consecutive years of strong growth viz. 26% in FY2023 and 24% in FY2024e[1]. The reversal in this growth trend will be driven by a slowdown in the

Read more ...

Niftylift Honoured as Hire Industry Supplier of the Year 2024

Niftylift Honoured as Hire Industry Supplier of the Year 2024

Milton Keynes, UK – Niftylift Ltd, a leading manufacturer of mobile elevating work platforms, has been named the Hire Industry Supplier of the Year at the prestigious Hire Awards of Excellence 2024. The ceremony, organized by Hire

Read more ...

IREDA's GIFT City office to boost Green Hydrogen Projects

IREDA's GIFT City office to boost Green Hydrogen Projects

Indian Renewable Energy Development Agency Ltd. (IREDA) has launched an office in GIFT City, Gandhinagar, specializing in providing debt options in foreign currencies. This move aims to facilitate natural hedging, reducing financing

Read more ...

JK Tyre Opens 22nd Brand Shop in Tamil Nadu

JK Tyre Opens 22nd Brand Shop in Tamil Nadu

JK Tyre & Industries Ltd has inaugurated its 22nd brand shop in Tamil Nadu, marking an expansion of its last-mile presence in India. The one-stop solution brand shop, named Hindustan Tyres, was inaugurated by Mr. Sanjeev Sharma

Read more ...

Road execution to grow by 5-8% in FY2025 to 12,500-13,000 km: ICRA

Road execution to grow by 5-8% in FY2025 to 12,500-13,000 km: ICRA

ICRA expects road execution to witness a growth of 5-8% to 12,500-13,000 km, after recording a robust expansion of ~20% in FY2024. The pace of execution in this fiscal will be supported by a healthy pipeline of projects

Read more ...

To get latest updates on whatsapp, Save +91 93545 87773 and send us a 'Saved' message
Click Here to Subscribe to Our eNewsletter.