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Budget 2024: Key highlights

Key highlights of Interim Budget 2024

On a high growth path

The government's focus on infrastructure development is expected to drive the demand for mini construction equipment.

On a high growth path

The government's focus on infrastructure development is expected to drive the demand for mini construction equipment.

Eyeing New Heights

The construction equipment and equipment financing industries experienced a series of highs and lows throughout 2022. As the new financial year starts, both sectors turned their attention to infrastructure as the driving force for future growth.

The demand trend for earthmoving equipment is expected to remain positive

Nischal Mehrotra, Vice President (Sales & Marketing), Liugong India, speaks on the emerging technology trends in the earthmoving equipment industry in India.

L&T Finance launches Warehouse Receipt Financing

L&T Finance (LTF), a subsidiary of L&T Finance Holdings and one of the leading non-banking financial companies, has launched Warehouse Receipt Financing (WRF), a first-of-its-kind digitally assisted journey for loan facilities against agri-commodities

L&T Finance launches Warehouse Receipt Financing

Launch of Warehouse Receipt Financing in a digitally-assisted journey for the first time in India

Yanmar announces expansion at Minnesota plant

Yanmar Compact Equipment North America, which encompasses the Yanmar Compact Equipment and ASV brands, has announced plans for a 32,000-square-foot expansion to its Grand Rapids, Minnesota facility.

“We are coming up with new joint ventures & tie-ups.”

Niraj Shah, Managing Director, Kaushik Engineering Works, speaks on the various challenges faced in the construction equipment sector.

ADB and EIB to help MahaMetro raise Rs 3,586 cr for Nagpur Metro phase-II

The first phase was funded by France’s AFD and KFW a German agency

Up-grading roads!

The road construction industry in India is undergoing a paradigm shift. Robust demand, higher investment and significant policy support in the road construction industry are driving the demand for motor graders in India.

Sany Bharat signs MOU with Union Bank of India

The network of Union Bank will extend equipment finance to customers of Sany Bharat across the country

There is a huge demand for rental equipment throughout the CEQ category

Sandwiched between the price surge and the infrastructure boom, Vishal Sharma, Business Partner, Reach International, talks about the rental equipment scene in the Indian equipment market

There is a huge demand for rental equipment throughout the CEQ category

Sandwiched between the price surge and the infrastructure boom, Vishal Sharma, Business Partner, Reach International, talks about the rental equipment scene in the Indian equipment market

Rent or lease – what’s the best option

Satin Sachdeva provides an ideal model – OEMs should sell equipment to equipment rental companies with the support of financers.

JCB India, Karnataka Bank tie-up for equipment financing business

The tie up arrangement with JCB India Ltd is expected to boost the lending avenues under the Bank’s MSME portfolio.

There is a surge in rental demand for AWP and MHE

Vishal Sharma, Business Partner, Reach International, speaks on the scenario of the rental market in the construction equipment segment

We will be launching track mounted compact range of crushing & screening machines

Excon is one of the largest construction equipment trade fairs and has been playing an important role in bringing out the latest technologies and solutions and we at Terex are proud to be a part of the 11th edition taking place this year

Eyeing new heights

The year 2021 gave numerous ups and downs for the construction equipment and equipment financing industries. When the year comes to an end, the sectors look forth towards infrastructure as the ‘Growth Puller’ for the period ahead.

Historic tower crane returns to Liebherr

The Liebherr Tower Crane Center in Bad Waldsee boasts a new attraction: a Form 30A/35 tower crane, built-in 1969. The crane’s owner, Stephan Keim, loaned it to Liebherr at the beginning of January.

infra demand boosts rental market

Rental is the future. Infrastructure stimulus measures and pent-up demand in the Indian market suggest growth ahead for equipment rental firms.

Budget 2022 and a big infra push

The union budget can be termed as a growth-oriented one, with the government focusing strongly on world-class infrastructure development.

Counting on diggers

Increasing demand for construction and infrastructure activities is anticipated to augment earthmoving equipment market growth in India over the next few years.

RBI supersedes board of Srei Infra and Srei Equipment Finance

The Reserve Bank of India on October 4 superseded the Board of Directors of Srei Infra and Srei Equipment Finance Limited, owing to governance concerns and defaults by SREI Group Companies.

7th India Construction Festival

Organised by the FIRST Construction Council in Mumbai on October 22, the event successfully brought together the who’s who of the infrastructure and construction industry.

RBI supersedes board of Srei Infra and Srei Equipment Finance

The central bank of India has appointed Rajneesh Sharma, the former Chief General Manager at Bank of Baroda, as administrator.

Kirloskar unveils ‘Limitless’ mission for subsidiaries to enhance experience

Kirloskar Oil Engines, Kirloskar Chillers, Kirloskar Pneumatic, Kirloskar Ferrous Industries and Kirloskar Industries have undertaken a refresh of their respective business vision.

Larsen and Toubro achieved consolidated revenues of Rs 29,335 crore

Larsen and Toubro achieved consolidated revenues of Rs 29,335 crore for the quarter

Kirloskar Group unveils 'Limitless' mission for subsidiaries to enhance customer experience

Kirloskar Group introduced Kirloskar 'Limitless' mission to transform Kirloskar Oil Engines, Kirloskar Chillers, Kirloskar Pneumatic, Kirloskar Ferrous Industries and Kirloskar Industries and undertaken a refresh of their respective business vision.

Tata Motors partners with J&K Bank to bring attractive financing options for its customers

The partnership will enable easy commercial vehicle financing at competitive interest rates and extended loan tenure

VECV launches Covid support package for dealer network and customers

VE Commercial Vehicle has announced a comprehensive package to support Eicher truck and bus customers, dealers, and dealer employees as they continue to operate in this difficult time.

One year of lockdown: Real estate sector beating pandemic blues

For many industries, this was a transformative year and one of them which underwent a turbulent change was the real estate sector.

Property mgmt firms becoming vital part of real estate

Real estate demand in metro cities is witnessing a boom due to the multiplicity of different kinds of industries, MNCs, small-scale businesses, and home-grown brands, writes Samkit Jain of Bullmen Realty.

Srei receives EoI for capital infusion from Cerberus

The board of directors of Srei Infrastructure Finance and its wholly-owned subsidiary Srei Equipment Finance held meetings announced that it has further received an expression of interest for capital infusion from Cerberus Global Investments.

Bounce back

Construction equipment finance has bounced back after the pandemic-forced lull.

Tata Motors, SBI join hands to offer financial solutions to CV customers

Tata Motors, India’s largest commercial vehicle manufacturer, has inked a three-year MoU with the State Bank of India (SBI), the country’s leading public sector bank, to offer unique financial assistance for the purchase of Tata Motors’ range of small and light commercial vehicles

Sunteck Realty enters JV to develop 7 acres of waterfront residences in Mumbai

Sunteck Realty has secured a marquee 7 acre land parcel at Borivali. It would develop a luxury residential project in the upmarket residential locality.

Innovation has been cornerstone of JCB’s operations

In our exclusive, Deepak Shetty, Deputy CEO & Managing Director, JCB India Limited, tells us how the construction equipment industry in general and JCB in particular have been emerging through the year of the pandemic.

Real estate sector seeks Rs 1.25 lakh cr stress fund

The National Real Estate Development Council (NAREDCO), an industry body, is seeking an estimated Rs 125,000 crore via many Housing Finance Corporations (HFCs) and Non-Banking Financial Companies (NBFCs) who they say are ready to establish such stress funds for the ailing real estate sector. According to the body, this will allow for faster sanctions and appraisals.

The M&HCV tipper trucks segment continues to look positive

RT Wasan, Vice President, Product Line, M&HCV, Tata Motors, elaborates on the company strategy in the Covid-impacted market scenario.

ICF 2020: A Virtual Construction Extravaganza

Just when the 2020 financial year was coming to a close, it was hit by the COVID-19 pandemic. While the industry was already battling issues such as a liquidity crunch, rising bad loans, slowdown in capex, project delays and insolvencies, among others, the last quarter witnessed growth in the negative territory for most businesses. However, despite obstacles and uncertainties being at their peak, a few entities managed to persevere and prevail, posting growth and exhibiting excellence.

Road Equipment: Road to Recovery

The Ministry of Road Transport and Highways (MoRTH) has big plans of constructing expressways, national highways, state highways and rural roads in the coming years. However, any uncertain economic situation in future may affect the recovery of the market as this will affect the payment of contractors, financing and thus equipment mobilisation.

Seeking Light at, the End of the Tunnel!

Prime Minister Narendra Modi is all set to inaugurate the world’s longest railway tunnel above 10,000 feet height on October 3. The Atal Tunnel is being completed at the most difficult time of coronavirus pandemic.

Backhoe Loaders Bouncing Back

In the current market conditions, the customer focus will be on equipment with better productivity and cost saving. Backhoe loader with its multi-utility advantage and competitive price will drive the demand in the current market scenario.

KfW IPEX-Bank offers EUR 10 million loan to Srei Equipment Finance

KfW IPEX-Bank is enabling the export of construction machinery for Srei Equipment Finance (SEFL) to India by providing a framework loan of EUR 10 million.

Financing Challenges

Devendra Kumar Vyas elaborates on the impact of COVID-19 pandemic on infrastructure and financing sector and the challenges faced by NBFCs.

Nip can change the narrative

The COVID-19 has caused a staggering unemployment of 115.

Tata Motors provides holistic support to transport ecosystem

Tata Motors has been comprehensively supporting the transport ecosystem to ensure all necessary supplies remain uninterrupted and seamless, nationwide

SBI sanctions Rs 150 billion loan to MSMEs

State Bank of India has approved Rs 150 billion loan to MSMEs and disbursed Rs 87 billion

We are preparing ourselves for the future

With timely planning and execution, the government will be able to alleviate the current situation and lead the construction market on the road to recovery. Puneet Vidyarthi, Brand Leader, CASE India, CASE Construction Equipment, shares more on the market scenario.

The World Has Changed

While at EXCON 2019, Union Minister Nitin Gadkari brought smiles to the faces of the worried construction equipment (CE) industry captains, the pandemic outbreak has wiped that smile into oblivion.

ACMA seeks relief measures for component industry to withstand COVID 19 impact

The impact of coronavirus over the industry, people and the economy is a grave concern.

Open Letter to Finance Minister

The construction industry employs 35 million people, which is more than the population of Australia or Malaysia, and contributes 8 per cent of India?s GDP.

Sonia Gandhi appeals to PM Modi

The construction industry employs 30 million people, more than the population of Australia or Malaysia; yet only 4 per cent of the current 32 million workers are skilled.

Srei Equipment Finance, UCO Bank announce strategic alliance

Srei Equipment Finance (Srei Equipment), a wholly-owned subsidiary of Srei Infrastructure Finance (Srei), and UCO Bank, one of India's premier public sector banks, announced a strategic alliance to offer joint loans for purchase of construction and mining, farm and medical equipment under a co-lending arrangement.

Srei Equipment Finance, UCO Bank to co-lend through iQuippo platform

Srei Equipment Finance (Srei Equipment), a wholly-owned subsidiary of Srei Infrastructure Finance (Srei), and UCO Bank, one of India?s premier public sector banks, announced a strategic alliance to offer joint loans for purchase of construction and mining, farm and medical equipment under a co-lending arrangement.

iQuippo launches upgraded financial portal

iQuippo launched its upgraded financing portal (www.iquippo.com) and became the first digital platform in the country to digitise the co-lending programmes of banks and NBFCs.

iQuippo launches upgraded financial portal

iQuippo, India?s first digital marketplace for infrastructure equipment, launched its upgraded financing portal (www.iquippo.com) and became the first digital platform in the country to digitise the co-lending programmes of banks and NBFCs.

17th CONSTRUCTION WORLD Global Awards 2019

With 50 winners from India and across the globe, and over 300 attendees, industry stalwarts came together to celebrate victory.

India Construction Festival - 2019

The festival, organised by FIRST Construction Council in New Delhi from October 15-16, successfully brought together the public and private sector to discuss probable resolutions to impediments faced by the infrastructure sector.

Global loader crane market to have steady growth in next 8 years

During 2018-2026, the global revenue of loader crane market is anticipated to expand at a steady CAGR of 4.6 per cent and reach a valuation of $2,083.6 million by the end of 2026, according to a report by Persistence Market Research.

Srei Equipment, United Bank to jointly offer loans

Srei Equipment Finance (Srei Equipment), a wholly-owned subsidiary of Srei Infrastructure Finance (Srei), partnered United Bank of India to jointly offer loans to MSME sector and retail customers under a co-lending arrangement.

Srei to continue its focus on equipment finance

Srei Infrastructure Finance and its wholly-owned subsidiary Srei Equipment Finance has consolidated the lending business of Srei Infrastructure Finance and Srei Equipment Finance into one entity since the focus for last four years has been on growing equipment financing and reducing the infrastructure loan portfolio.

Srei, Oriental Bank of Commerce sign pact

Srei Equipment Finance and Oriental Bank of Commerce announced a strategic alliance to offer loans for purchase of equipment under a co-lending arrangement. iQuippo, a Kanoria Foundation initiative, will facilitate sourcing of loans under this program.

MCE industry looks for recovery post elections

Demand for mining and construction equipment post-elections will depend on the function of a stable government and continued focus on infrastructure investments.

On Sustainable Growth

Devendra Kumar Vyas, Managing Director, Srei Equipment Finance, elaborates on the key factors that drive the growth and the emerging market trends in equipment finance.

Srei Equipment Finance and Bank of Baroda in strategic alliance

Srei Equipment Finance (SEFL), a wholly-owned subsidiary of Srei Infrastructure Finance (Srei), and Bank of Baroda, India?s second largest public sector bank, announced a strategic alliance to offer joint loans for infrastructure equipment under a co-lending arrangement.

ICRA predicts robust long-term outlook for mining construction equipment industry

The Indian mining and construction equipment (MCE) industry is likely to see a moderation in demand growth which is expected to fall to 4-6 per cent in the medium term, more particularly during CY2019.

CE finance outlook

Financing accounts for approximately 80-85 per cent of the total equipment purchased. In the case of overseas purchases, it accounts for approximately 90 per cent.

CHALLENGES and NEW Opportunities

The construction equipment rental market in India is still small as compared to the other equipment markets worldwide. Satin Sachdeva sheds light on the realities of the rental market in India and the steps needed for the development of the market.

LiuGong, UOB ink strategic pact for Southeast Asia

LiuGong has successfully signed a Memorandum of Understanding (MoU) with the United Overseas Bank for partnership in machinery financing in Southeast Asia.

Mitsubishi Corporation awarded Iraq port contract

Mitsubishi Corporation (MC) has been awarded a contract for port construction in the Republic of Iraq. Extended by the General Company for Ports of Iraq (GCPI), the contract covers a port rehabilitation project in the country?s southern region of Basra, and is valued at approximately $110 million.

Equipment finance sector to grow at 19 per cent CAGR

We are the leading financiers in the construction, mining, and allied equipment (CME) sector in India for fiscal 2017 (Source: Feedback Analysis). This sector primarily consists of equipment used for earthmoving and mining, concreting, road building, material handling, material processing and allied activities.

Growth in equipment finance market to continue

There has been a substantial upswing in sales of construction equipment during the last two years, mainly driven by commissioning of major infrastructure projects by the government in roads and other sectors.

On growth Track

The upswing in construction equipment market in the last two years has created new opportunities for equipment finance market. Leading finance players are keen on the growing trend of the infrastructure market in India that has helped the construction equipment market for a turnaround after a rough patch till 2016.

Infrastructure: The Way Forward

The total sales of 72,745 units of construction equipment in 2017 against 66,613 in 2016 brought back some sheen. The easing up of GST rate from 28 per cent to 18 per cent helped breathe but the launch of infrastructure projects brought a smile to the industry.

All set to meet infra growth demand

Aggressive infrastructural development is imperative to the overall economic welfare of a country. If the economy is likened to a wheel, its infrastructure sector is most certainly the central hub that supports all the other sectors in the form of spokes and keeps the wheel spinning smoothly and efficiently.

Every third piece of equipment is financed by us

Overall, we see growth coming from earthmoving, road, and material handling equipment categories. More than 60 per cent of the equipment comprises earthmoving equipment (backhoe loaders, hydraulic excavators, wheel loader, etc).

We will have our biggest presence in Excon this year

The construction equipment (CE) segment has already been riding a massive infrastructure push by the government. The CE market grew by around 32 per cent in 2016-17 (unit sales).

Less investment, More benefits

Telematics is important for effectively monitoring the equipment fleet in its operation and maintenance. Work on Internet of Things (IoT) platform, Telematics provides information about the location, fuel, maintenance, and all other parameters which can be accessed remotely on a smart phone, tablet or laptop

Light at the end of the tunnel?

The Bullet Train dream is beginning to take shape. Japan is funding the project with a soft loan over 50 years with a 15-year moratorium. But even before we get onto a Bullet Train, the metro rail projects have kicked up a storm.

Equipment Finance Sets to Outperform

Construction equipment market in India has evolved and become a major one in the global market place. With the evolution of the market, awareness about the various equipment class and their use, and above all, the construction and infrastructure development activities picking up momentum, the equipment finance market has opened up to all equipment categories.

Metallurgy Trends in Construction

Steel and metals play a major role in the construction industry. Alireza Moghaddam explains on the use of metals in construction and the new trends and the emerging market opportunities.

Budget Reactions | CREDAI Chennai

Infrastructure status to the affordable housing segment indicates that this sector will play an important role in reviving economic growth in the country. This will help developers to obtain cheaper loans from the banks which will significantly boost the government?s target of Housing for All by 2022.

Budget Reactions | SG Estates

This is a good budget from real estate perspective because of complete clarity on affordable housing. The criteria for low cost/affordable housing has been changed from built-up area of 30/60 sq m to carpet area of 30/60 sq m, thus making the low cost/affordable housing segment more lucrative and also making the segment more attractive for the buyers.

Budget Reactions | PropUrban

Besides doing the much required ?clean-up? act, Budget 2017-18 gives major boost to the affordable housing and infrastructure sectors. The fact that Affordable Housing has been given the infrastructure status is commendable and will go a long way in fulfilling the Housing for All by 2022 vision of the government.

Budget Reactions | Ashoka Buildcon

Provisions for national highways has been increased by 12 per cent in the infrastructure in the Union Budget 2017, which will result in additional funds worth Rs 7,000 crore (a total of Rs 64,000 crore) in this sector.

Affordable housing market to grow

According to an ICRA report, demand for affordable homes is set to stay healthy, with the market poised to touch the Rs 6.25 lakh crore mark by 2022, supported by a growing population, young demographic profile, shift towards nuclear families and rapid urbanisation.

Centre plans dedicated fund for infra finance

According to reports, the Union Government is planning to set up a dedicated fund of Rs 10,000 crore for financing infrastructure projects in the country. This will be a boost to the country?s infrastructure sector, requiring investments of more than $1.5 trillion in the coming ten years.

We deliver solutions, not just machines

Current market scenario: The numbers over the last 6-7 months show that the industry is booming. In fact, India is the only bright spot today and the world is focused on it. I think there is an enormous opportunity for CE per se and I think the future is good for the next 5-10 years.

Centre plans dedicated fund for infra finance

The Union Government is planning to set up a dedicated fund of Rs 10,000 crore for financing infrastructure projects in the country. The fund ? through ?unconditional and irrevocable partial credit guarantee? ? will help enhance the credit rating of bonds issued by infrastructure firms so that they, in turn, can attract long-term investments especially from global insurance, pension and sovereign wealth funds.

Bauma is an important platform for the industry

Basis various industry reports, In FY16, the disbursement in the construction equipment financing (CEF) industry was Rs 243 billion, down about 5 per cent from Rs 255 billion in FY15. However, In FY17, the CEF industry is expected to have a turnaround and grow about +5 per cent (from -5 per cent in FY 16) and grow about 15 per cent in FY18.

A Comprehensive Platform for Heavy Machinery Industry

Business Fuel LLP, a Bengaluru-based startup, has launched a new platform - Metacrust.com, to revolutionise the way infrastructure, mining and construction industry works in India. This fun and revolutionary H2H e-commerce platform will focus on both B2B and B2C market.

Wirtgen Slipform Pavers in Building New Airport

Ulaanbaatar is the hub for the rising economy and centre of expansion for trade and industry. Mongolia is also the world?s second largest landlocked country and depends on aircraft traffic bringing in and taking out passengers and cargo.

ECA is the major risk taker under the loan

KfW has three different arms under which international financings are being carried out. These are KfW Development Bank, DEG and KfW IPEX-Bank. The ECA business is wholly taken care of by KfW IPEX-Bank which stands for international projects and export financings.

Innovative Track Laying in Railway Construction

Tata Projects Ltd, one of India?s fastest growing and most admired infrastructure companies has commenced work on the Rs 4328 crore project to build the 320-km stretch of the Western Dedicated Freight Corridor, a dedicated freight line connecting Delhi and Mumbai.

India signs loan deal with ADB

India has inked an $80 million loan agreement with Asian Development Bank (ADB) to improve infrastructure in two Northeastern state capital cities.

Large Miners Forward

While the global mining industry is on the decline, India is witnessing a reverse trend. Many international mining equipment manufacturers are showcasing their products at BAUMA 2016, Germany, in a big way, at a time when Coal India

Konkan Railway to double and electrify tracks

Work on doubling of tracks on Konkan Railway will start soon, according to official sources.

One-time fund to revivelanguishing highway projects

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi approved a one time fund infusion to revive and physically complete languishing national highway projects under the extension of provision available for BOT (Toll) projects to BOT (annuity) projects.

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