Indian CE market buoyant in Asia
According to a report by Construction Equipment and Building Materials Machinery Association, in association with VDMA, India?s is the only national market in Asia currently experiencing growth in construction machinery sales. One of the drivers for the standout performance of India?s construction industry is the Make in India programme launched by Prime Minister Narendra Modi in September 2014. Since its inception, the initiative has reportedly generated more than $63 billion in foreign direct investment ? largely directed towards infrastructure development. Off-Highway Research analysts recently forecast total sales of around 55,000 construction machines in 2016, rising to more than 71,000 machines by 2020.