It is important to continue the lockdown and other stringent preventive measures wherever necessary to minimise the Covid-19 impact and gradually stop the virus attack. Simultaneously, it is also imperative to revive the economy which has been already impacted by the pandemic. The package for supporting the industry is eagerly awaited by the industrial sector, which has suffered on account of a standstill in revenue under the lockdown. Even after the lockdown is lifted, there are likely to be supply chain disruptions which will paralyse operations for some time. The opportunity lies in the form of a sourcing and export hub for various equipment and components in the global market. This is time to prepare for such opportunities and make inroads into this arena. The government must revive its Make in India initiative with the current market situations in mind. While creating a favourable investment environment for foreign players, the government should also extend policy support to the domestic micro, small and medium enterprises (MSME) segment for their business growth in the country. The CE industry had already taken steps in easing their production even though the Roads Minister Nitin Gadkari had very ebulliently declared at the Excon 2019 that the roads sector would see an accelerated surge.
This has been a wise decision as with minimal efforts, some pending orders can be fulfilled. NHAI's road project sites are now back to work at 70 per cent capacity as per Gadkari, but the sites are also facing challenges of workers wanting to go back to their homes as they have been stranded during the lockdown.
The Covid-19 impact has also put the concrete equipment segment in the country in a tight situation due to the slowdown in realty and infrastructure construction. Though construction has resumed after the relaxation in lockdown across the country, it will take some time for the construction activities to return to normal. In this period, the concrete equipment companies are focusing on research and development activities and technology and service support to customers. The Cover Story on Concrete Equipment elaborates on the market scenario and how the players are bracing up to overcome the challenges. Foundation Equipment segment has seen major growth in the past few years after the pick up in metro rail, bridges and irrigation projects.
Though the current market conditions have slowed down the segment, it is expected to pick up from 2021. The Feature brings forth the foundation equipment market in the country and the new opportunities. Also read other regular columns for an update on the industry. Do log in to our website at EquipmentIndia.com for regular updates. Stay safe!