What is your view on the current market for large mining equipment segment in India?
Large mining equipment are primarily used with Coal India subsidiaries and some corporate mining companies viz, Vedanta, Reliance etc. A few mine developer-cum-operators (MDOs) have started experimenting with imported used mega mining machinery that are now available across the globe at throwaway prices because of the global recession.

What is the year-on-year growth trajectory you project? What will be the key success factors?
The year 2016-17 and 2017-18 will see things taking shape on the ground and we expect growth in mining equipment to double by mid-2017 onwards. The key success factors for any OEM would be:

• Technologically superior product with low cost of ownership over the lifecycle contract.
• Ability to offer flexible support solutions to end-customers with the machines like O&M contracts, FMC, MARC, LCC etc.
• New and cleaner mining extraction technology for greenfield projects viz., IPCC, surface miners etc.

What is your assessment of the Indian market for large mining equipment categories over the next 5-10 years in terms of numbers and value?
There is a huge demand for various metals and minerals in the country as there is still a demand-supply gap. Coal and iron ore will continue to be the growth drivers of the industry in the long run. Operations of coal blocks recently auctioned by the Coal Ministry along with upcoming auctions of coal mines will fuel growth. The demand for ultra large mining equipment will see a growth in the next couple of years down the line as there will be production pressure on MDOs/mine operators who have now invested money to get the auctioned coal mines. Large machinery can move earth at a much rapid pace and hence production capacity can be quickly revamped. With global recession continuing in other markets across the globe, the prices of both new and used mining machinery have seen a drastic drop.