Dimitrov said, "This is an opportunity for me to give back to the industry which has given me so much in the last 27 years." He added that the task ahead is clear & that it is strongly linked to the Vision Plan 2030. The construction equipment industry in India has the potential to grow by 3 times its current size (to USD 25 billion) to become the second-largest construction industry in the world.
This endeavour is driven by focusing on three areas - Building a Sustainable Demand for the industry, Creating a robust Operating Ecosystem that can support the industry, and Establishing a stable foundation using Skilling Capabilities. "In this regard, we need to strengthen the ICEMA by building a strong pool of people who can support the association, increase the participation of members and governance where everyone feels involved", Dimitrov added.
ICEMA is working with the GOI's National Infrastructure Pipeline to harness key opportunities. They are looking to attract technology investments to scale up manufacturing of construction equipment and components, to meet the domestic and international demand comfortably. He also talks about the uncertainty & volatility that the industry has been battling for the last 2 years due to the 2019 elections, IL&FS crisis followed by the Covid complications.
The industry is also facing some immediate concerns like that of rising steel prices which are putting tremendous pressure on the supply chain of OEMs. Added to this are issues like worldwide shipping disruptions, cash flow crunch in the market and the threat of a 3rd wave leading to further constraints. To combat these challenges, ICEMA aims at working closely with the Central and State Governments to create a sustained demand in the industry. Dimitrov believes that the inherent resilience of our country and the scope of growth offered by it will be strong demand drivers for infrastructure development, thus generating robust opportunities for the construction equipment industry.