The Central government has plans to build infrastructure and industrial projects with an investment of ₹100 lakh crore, said V K Singh, Minister of State for Road Transport & Highways, during his inaugural address at CII EXCON in Bangalore. He stated that infrastructure must be sustainable and the industry should take measures to enhance the quality at an affordable life cycle cost.
India is working hard on hydrogen fuel technology and solar energy. The CE industry must be prepared for a competitive market and focus on Industry 4.0 for revamping itself. He added that India is an emerging hub for construction equipment, component outsourcing, and as a design base. The private players in the construction industry must concentrate on automation, adoption of advanced technologies and global best practices, usage of alternate fuels, and innovations in using waste materials for their construction projects to help reduce cost of construction and pollution.
Basavaraj Bommai, Chief Minister, Karnataka, said the infrastructure sector is receiving an intense push from the Government, propelling India’s overall development and GDP. The new policies announced by the Government would ensure a time-bound creation of world-class infrastructure in the country. Underlining the importance of developing and embracing technologies, Deepak Shetty, Chairman, CII EXCON, said that the industry can increase R&D for innovations and become an export hub globally. The three key strategies that will help in fast-tracking developments are: focusing on new growth drivers, understanding the significance of rural economy, and rolling out a roadmap for alternate fuels.
Stressing the need for rapid investments in infrastructure development, Dimitrov Krishnan, co-Chairman, EXCON, said, “India’s CE industry is the 3rd largest market in the world, and is showing remarkable progress. We aim to become the 2nd largest CE market in the world. EXCON will reflect on the theme elements at the exhibition and set the pace for Atmanirbhar Bharat in infrastructure development across the country.”