Page 26 - CO JAN 2020

POST EXCON 2019

Dignitaries speak converting it in dollar terms taking average exchange rate of the
financial year.
Speaking at the inauguration, Nitin Gadkari, Minister for
Road, Transport & Highways and Depiction of the Indian economy, projecting the country’s gross
Micro, Small and Medium Enterprises domestic product (GDP) would grow at 7% in 2019-20, against a
(MSME) Government of India said “the
construction equipment industry can five-year low of 6.8 per cent the preceding year. This low in GDP
expect a 40 percent increase in sales was with political stability facilitating a pick-up in demand and
in the near future. “The Prime Minister investments. India would need to grow at 8 per cent annually to
has a vision to make India a $5 trillion become a $5-trillion economy by FY25, the survey projected.
(`35,350,000 crore) economy. This requires
a lot of investments in infrastructure and Market Report
industrial projects. Keeping this in mind, the government is investing India has become one of the key potential markets for construction
a lot in roads and other infrastructure projects to develop airports, equipment. Developing construction sector would act as a key
ports, waterways and smart cities. For the roads, the government
has invested around `2 lakh crore, this year, further increase to catalyst for the growth of the construction equipment market in
`3 lakh crore by next year, totalling to `17 lakh crore in the next India. According to a research report titled “India Construction
5 years.” Equipment Market (2019-2025): Market Forecast by Equipment
Types, by Applications, by Regions, and Competitive Landscape”,
In a press statement issued later, the India construction equipment market is projected to grow at a
Vipin Sondhi, Chairman, CII Trade Fairs
th
Council said, “the 10 edition of EXCON CAGR of 10% during 2019-2025.
with the theme, Smart I-tech – Next Gen Rapid urbanization, growing population, increasing government
India@75 provides a platform for the
display of technological advancements, spending in infrastructure projects, the inflow of foreign direct
innovations and latest developments investment are the major drivers boosting the demand for
in the construction equipment sector. construction equipment in the country.In terms of equipment
EXCON would project the CE industry as types, construction equipment market is mainly dominated by
an industry of the future and help us bring the vision of India@75 earthmoving equipment segments such as loaders, excavators and
to fruition.”
cranes. Earthmoving equipment segment acquired a key market
While addressing the Press Conference, in the overall market in 2018, owing to the increasing number of
Sandeep Singh, Member, CII EXCON public-private partnerships and government initiatives such as smart
2019 Steering Committee said, “The 10 city development projects.
th
edition of EXCON 2019 will be the largest
of its kind with over 3,00,000 square Moreover, with the rapid increase in infrastructure investment
metres of display area; 1250+ exhibitors and industrial production, the earthmoving equipment segment
including 390+ overseas companies from
21 countries besides country pavilions contributes key revenues to the India construction equipment
from China, Germany, Italy, South Korea, market forecast period.
Turkey and UK. The 5-day exhibition would attract over 70,000
business visitors from India and abroad.” What was special
Held on the overall theme of ‘Smart i-Tech – Next Gen India@75’,
Aman Choudhari, Chairman, CII Karnataka State Council the event is conducted by the Confederation of Indian Industry
said, “EXCON initiative over the last two (CII), and supported by the Indian Construction Equipment
decades helped Bangalore to emerge
as the Construction Equipment Capital of Manufacturer’s Association (ICEMA). The expo, spread across
India with the presence of global players 260,000 square metres, has drawn participation from over 1,250
from both the public and private sectors”. exhibitors, representing 918 exhibitors including 281 international
EXCON was an ideal platform to connect companies from 21 countries, including China, South Korea,
all infrastructure stakeholders, including Germany, Italy, Turkey and the UK. The expo saw 300 new product
policymakers, investors, and developers, launches and drew 55,224 business visitors.
with the exciting growth story of India’s
infrastructure. Over the last 9 editions, the event has grown into Excon 2019 endeavored to build India’s infrastructure in an
one of the topmost construction equipment exhibitions in this part ecologically sustainable manner, enabling projects on Smart Cities,
of the world.
supporting Swachh Bharat programs, promoting Skill Development
Subir Kumar Chowdhury, MD & CEO, JCB India said “I see the and position “Make In India” – as the National Agenda for achieving
current challenges as something transient. holistic growth in the infrastructure and related sectors.
It’s also because of the changing way
in which things are getting redefined. In order to give a boost to the infrastructure sector the Government
Contractors say payment cycle has of India had announced its intention to invest `100 lakh crore in
started again. We anticipate a positive infrastructure over the next 5 years. The Government of India has
turnaround in the industry in April-June also proposed for expanding 1,25,000 KM of rural roads under
2020 quarter.’’
the Pradhan Mantri Gram Sadak Yojana and creating a national
highway grid. Through the PMGSY programme, the government has
planned to bring in connectivity between all villages through road

26 CONSTRUCTION OPPORTUNITIES|JANUARY 2020