ICEMA’s 2nd Human Capital Summit Focuses on Empowering People and Attracting New Talent
The second session of ICEMA’s Human Capital Summit focused on building a competitive and future-ready workforce for a technology-driven Construction Equipment (CE) industry. A key highlight of the event was the release of the ICEMA Human Capital Workforce Trends Report 2025—an in-depth study of workforce dynamics and trends in the construction equipment sector. Based on inputs received from ICEMA members, the report will serve as a strategic resource for data-driven workforce planning and policy development across the industry.
In the opening session, Shalabh Chaturvedi, Convener of the ICEMA Human Capital Panel and Managing Director – India & SAARC, CASE Construction Equipment India (P) Ltd., noted that by 2030—which is just around the corner—the industry is projected to grow from 140,000 to 250,000 units. This growth would position India as the second-largest CE market globally, surpassing either the U.S. or China. India currently holds the third position.
However, such growth brings with it a significant challenge: human capital. By 2030, the industry will require around six million people. This is not just a statistic—it is a wake-up call. As Shalabh pointed out, the challenge lies in how the industry can attract, train, and retain the manpower it needs, particularly amid increasing competition from other sectors.
A report by Deloitte underscored that the skills required by the CE industry today do not exist in sufficient numbers in the current market. Furthermore, the systems and support mechanisms needed are still evolving. But this gap also presents a major opportunity: the chance for the CE industry to shape its own ecosystem and build the workforce of the future, rather than just hire it. From investing in education and upskilling to creating structured career paths and meaningful work, the industry must proactively lead this transformation.
Dimitrov Krishnan, Chairman of IESC, Immediate Past President and Mentor – Human Capital Panel, ICEMA, and Managing Director of Volvo Construction Equipment (P) Ltd., addressed the issue of sectoral attractiveness, emphasizing a critical concern: the gap between academic qualifications and job readiness, especially among students from Tier-2 and Tier-3 colleges. Degrees often fail to equip students with real-world skills—not because of a lack of potential, but due to insufficient exposure to practical, relevant learning.
He urged the industry to step in and bridge this gap—by bringing young minds closer to the sector, exposing them to the realities of the CE industry, and making them employable and valuable contributors to India’s infrastructure and economic growth.
The summit also hosted in-depth discussions on shaping the workforce of tomorrow, exploring expectations, challenges, and strategies for talent development. There were also meaningful dialogues on transforming workplaces through diversity, equity, and inclusion. The event concluded with the unveiling of the Action Agenda 2025, offering forward-looking insights as leaders from across the ecosystem—including industry, HR, academia, and policy—came together to exchange ideas and explore solutions.
