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.
