Bauma provides us with a great opportunity to connect with our customers and strengthen our relationships. It’s an excellent platform for us to showcase our products, including our machines, services, and financial solutions. All of these elements play a crucial role in helping our customers grow their businesses and become more successful. Additionally, we are presenting the latest technologies, which improve the efficiency, productivity, and overall safety of our machines, ultimately enabling our customers to achieve their objectives in a more sustainable manner.

We have the Cat 424 backhoe loader on display, which is already CEV Stage V compliant. In fact, we launched this product ahead of the curve. The CEV Stage V norms will only come into effect in India starting next January, but we launched this machine back in 2021, fully compliant with these norms. This means we’ve had three years of machines in the market already, and one of our units has even clocked 18,000 hours without any major issue. This is a testament to the reliability of our products.

We also have the Hindustan 2021 F on display, which has been a legacy machine for over 50 years. It has supported customers across industries such as mining, construction, process industries and the ready-mix concrete segment. This machine has proven itself over decades. One of our units has already clocked over 100,000 hours and is still running strong. This really demonstrates the build quality and performance of our machines. Recently, we updated the Hindustan 2021 model to comply with Stage V emission norms. The new model has been re-badged as the Hindustan 2021 F, which not only meets the engine emission compliance but also comes with a new cab featuring ROPS and FOPS protection. We’ve also enhanced operator ergonomics, making it more comfortable for operators to work longer hours.

I think India is definitely in a high-growth phase right now. There’s a lot of investment happening in the country, and there is a strong focus on infrastructure development, which has been going on for quite some time and is continuing. This continuity is definitely a positive aspect for us. In fact, if we look at current budget, the focus on infrastructure development is only growing much more than it has in the past. This focus on infrastructure growth is very good for our country and the associated industries including construction equipment industry.

There are some significant changes in the way construction industry works. We’re seeing a trend towards more specific equipment for jobs. Earlier, people would use equipment that wasn’t necessarily the best fit for a specific task, but now, with time-bound projects and strict quality requirements, they are opting for equipment that delivers the best performance and productivity. This helps customers meet their targets more efficiently.

Caterpillar is contributing to a reduced-carbon future by investing in new products, technologies, and solutions to help our customers meet their climate-related objectives. We have committed that 100 per cent of our new products through 2030 will be more sustainable than the previous generation. We work to reduce greenhouse gas (GHG) emissions in our operations while also minimising water use and waste generation. Environmentally efficient operations align with our strategy for operational excellence across the enterprise. 

We offer machines and engines that are capable of operating on alternative fuels such as hydrogen, biogas, and hydrotreated vegetable oil (HVO) and biodiesel, while continuing to develop technologies for the future.

We have developed a few electric machines and gaining valuable experience on them. We’re also experimenting with new technologies that will help us better understand the electrification process, ultimately delivering the right products to help our customers succeed.

We take two approaches to skill development. First, our engineers are at the core of our R&D centre offering diverse engineering expertise—mechanical, hydraulics, electronics, software, autonomy, and more. Our expansive footprint in India today comprises the company's second-largest concentration of engineers worldwide.

Secondly, our dealers are on the ground working closely with customers to provide the necessary skills to operate and maintain machinery, ensuring customers get the best productivity from their machines. Our dealers also have specialised training programmes in place to upskill people, helping them become better skilled and more employable.

It really depends on the market needs. That said Caterpillar has already invested more than $1 billion in India over the last couple of decades. Most of these investments have gone into manufacturing technologies, facilities, and R&D. These investments aren't just aimed at the Indian market, but we are also making products and services for global markets. We are fully committed to the Indian market and doing everything necessary to meet local requirements.

In the coming year, we will focus on Cat 424 CEV Stage V compliant backhoe loader. We’ll highlight the performance and reliability it has already demonstrated over the past three years and proved itself to be the right solution for our customers’ needs. Additionally, we’ll continue to highlight the 50-year legacy of the Hindustan 2021 and the recent upgrades we’ve made, integrating contemporary technologies to enhance its performance. Our overall strategy will be to support our customers in achieving the lowest total cost of operation through the lifecycle of the machine, helping them increase profitability. Moreover, we’ll focus on delivering projects within tight timelines while maintaining a strong commitment to sustainability.