by Claude Gunasekera
“India is all set to become the manufacturing and export hub of the world for construction equipment manufacturing, with the presence of large original equipment manufacturers (OEMs) and a strong supply chain supported by a vibrant components sector, said Deepak Shetty, CEO & MD, JCB India / chairman, EXCON, South Asia’s largest trade fair for construction equipment. He was speaking at a post trade fair media meeting in Bangalore, where the fair was held recently.
Shetty said the role of smart technologies and innovation in India’s infrastructure development is paramount in achieving the vision of making India the global hub for construction equipment manufacturing. As a result, there is a need for rapid investments across infrastructure for sustainable development in the country.
Dimitrov Krishnan, co-chairman of CII EXCON, said, “Indian CE industry, being the 3rd largest market in the world, has shown remarkable progress over the years and we aim to become the 2nd largest CE market in the world. The largest CE market is USA and the second largest is China at present. The Indian economy is driven by the infrastructure sector. This sector is a key driver of India’s overall economic development. The government has a strong focus on it and encourages policies that will ensure the creation of world-class infrastructure within a time frame. The infrastructure sector encompasses power, bridges and dams as well as urban infrastructure development. India’s government is expected to invest heavily in this sector, especially highways, renewable energy and urban transport. EXCON takes place at an opportune moment when the world’s attention is on India and about to enter a new era of manufacturing glory. Excon is a strong partner in the implementation of ambitious infrastructure projects. It will also demonstrate India’s construction equipment industry spirit.”
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