Budget 2024: Key highlights

Key highlights of Interim Budget 2024

The Concrete Advantage!

The concrete equipment market is expected to rise on account of anticipated growth in the construction industry, increasing FDIs, and the rising number of smart city projects in the country.

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.

Concrete proof

Growth is round the corner for concrete equipment as market is projected to cross $1,300 million by 2024, exhibiting a CAGR of 13 per cent because of anticipated growth in the construction industry.

Arvind K. Garg is EI Person of the Year 2021

Garg was awarded at the 9th Equipment India Awards.

The Festival is back, Are Festivities back?

The current slowdown is giving a drubbing to the Indian construction equipment (CE) market with the equipment sales diving drastically in the past few months in contrast to what the industry had anticipated during the start of the year.

MHE holds enormous growth potential

Despite the relative slowdown in demand in the current fiscal, the market for material handling equipment (MHE) will continue to expand in double digits over the next few years.

Setting New Benchmark

Growth in warehousing and logistics sector is picking up with the introduction of GST and infrastructure status to logistics. In this scenario, the warehousing and material handling equipment players are gearing up to meet the emerging demand for advanced equipment.

Rentals Imperative for Growth

Satin Sachdeva, Founder and Secretary General, Construction Equipment Rental Association (CERA) elaborates on the importance of rental market in the growth of construction equipment industry.

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.

Aggregate Boom,Policy Gloom

Crushers and screens market is poised for a demand boom with the focus slowly shifting towards higher capacity machines to meet the growing demand for aggregates.

New Growth Avenues

Warehousing segment in India is evolving fast and is moving towards palletised loads which can be stored at heights.

EQUIPMENT INDIA Awards & CEO Forum 2018

After the bitterly cold days and nights of the famed Delhi winter, spring is said to augur good tidings. Or so it is believed. Maybe, it was in continuation of this tradition that the city successfully held yet another edition of the Equipment India Awards.

On a Brighter Note

The government's increased focus on port infrastructure and through budget and Sagar Mala programme has opened new growth avenues for port equipment industry and is looking forward to a brighter future in India.

Crushers & Screens| High on Demand

With infrastructure and construction sector on fast-track, especially road sector, aggregate processing has become essential to support the construction activities with a matching pace.

A Smooth Rollout?

Emerging markets with infrastructure needs continue to accelerate the growth of construction equipment manufacturing, which in-turn drives the bearing market in construction segment.

Equipment India awards & ceo forum 2017

It was 6.15 p.m. with 15 minutes more to go for the mega event of the infrastructure equipment industry. Meanwhile, the Viceroy Hall at the heritage Claridges Hotel located in New Delhi's famed Lutyen's Zone was already filled to capacity.

The new norms

Lok Sabha has passed the GST Bill, clearing the deck for its smooth rollout from this July. Termed as independent India?s biggest reform initiative, the GST Bill is expected to bring together the entire nation on a single platform of taxation.

The GST Blockade

The Narendra Modi government?s several attempts to get the most sought-after tax reform are being thwarted by the Congress majority in the Rajya Sabha, under one guise or the other.

Material Handling: Meteoric Rise

Modern warehousing and inter modal logistics industry initiatives in India, have redefined how business is conducted in the country in most industry sectors as well as its geographic regions.

We need policy for smooth movement of cranes across state borders

In India it is becoming a trend to opt for newer cranes because the selection parameters are stringent and green initiative consciousness with multi nationals

On Course for Success

Road construction is driving the Indian compactors market. This is expected to continue. ?Most of the current demand for both soil and tandem compactors is for road projects,? says Ramesh Palagiri, Managing Director & CEO, Wirtgen India.

Exceeding Expectations

According to a report released by ICEMA, the current market size of the construction equipment including backhoe loader, concrete mixers excavator is around $2.8 billion. Further, the Indian construction equipment industry

We will be showcasing our own branded rock breaker and trenching bucket

Last few years have been tough on the construction equipment (CE) industry in general. The total industry volume has gone down across segments and has strained many organisations in this space.

backhoe loaders:flat Growth

Backhoe loaders are passing through a challenging time for the past few years. Market is registering a flat growth with some indications that it is shrinking.However, now there is optimism among the leading players in the backhoe industry

High Expectations

With growing safety awareness, the Aerial Work Platforms (AWPs), one of the best solutions to keep people safe, while working at heights, is poised for exponential growth in the near future.

The market situation depends on the market reach

Even though the demand-supply is not in balance and rental rates have dipped, I am hopeful that market will open up and new cranes will be more in demand as against old cranes, says Hitesh Obhan, Proprietor, Ishardas & Sons.

Is the money flowing again?

Tricky times call for strong strategies but the long term prospects are bright for financiers with staying capacity, finds Charu Bahri. Demand for construction equipment finance has been down for the last few years.

Accessing Heights, Safely

As the access equipment industry matures in India and users become more aware on the advantages of using such equipment over conventional practices of working at heights, the rental sector in India is poised for a very bright and promising future.

Used equipment without safety standards is a challenge

There is a lot of positivity in the industry though things have not picked up to the extent that we hoped for; what we expected to happen in three months may happen in six months time. We feel that the industry is going to be 10-15 per cent better after six months; and from next year, things will start falling in place.

Diggers to get busier

The numbers published by ICEMA clearly shows that there is a slight uptake on the larger equipment like excavators and wheel loaders. In the smaller equipment like mini excavators, backhoe loaders etc have still to pick up the trend. Elaborating the prevailing scenario and the growth drivers.

Dedicated infra financing vehicles are need of the hour

Eight months in office, the Central Government has done well to improve the business sentiment. Several measures aimed at easing the way of doing business have been taken. Things have started looking up for the infrastructure sector too.

Our machines are not only made in India, but also made for India

Logistics and taxation challenges are the biggest bottlenecks. Absence of GST regime is actually hurting the prospects of business growth and economic activity expansion, says Vijay Sharma, Executive Director, Terex Equipment.

Multiple taxation regime across states to be streamlined

The Central Government can support in overcoming some of the challenges by speedy implementation of a unified GST, greater investment outlay towards infrastructure development, especially in the off-highway sector, and more thrust in skill development through industry-ready educational programmes/vocational courses, says Abhijit Gupta, Managing Director, Case Construction Equipment India.

Make in India

Prime Minister Narendra Modi has launched an ambitious campaign ?Make in India?, which aims to turn the country into a global manufacturing hub. The campaign projects India as an investment destination and develop, promote and market India as a leading manufacturing destination and as a hub for design and information.

Forging Ahead

The Indian forging industry is poised to grow and see major investments for capacity expansion in the coming years. The Prime Minister?s ?Make in India? vision will be added fillip to the industry?s plans to diversify its focus into non-automotive and industrial segments apart from automotive sector.

Manufacturing industry boom to propel MHE market

Coming year, we are going to launch a couple of products in electric segment including a premium electric forklift, and a more efficient version of our stacker and battery-operated pallet truck. We are also planning to launch a new model of IC forklift, says MRV Johnson, Chief Marketing Officer, KION India.

DesignED to Rule

Emerging Trends

Introduction of GST, more focus on palletisation, and expected opening up of retail segment are expected to boost the demand for forklifts.

Up & Moving

Execution is the Driving Mantra

The Union Budget 2014-15 is probably one of those Budgets post-independence, which has been analysed in an environment of high expectation, sub five per cent growth, double digit inflation and extensive knowledge communication through media

8,500 km by March 2015: How Realistic is the Target?

The Union Finance Minister has set a target of 8,500 km of roads to be completed during the current fiscal year, which simply means construction of about 35.5 km of road per day! In the last couple of years,

Tata Motors will continue to develop new products and upgrade its existing ones.

At Tata Motors, we strive to enhance our customers? experience, offering the unmatched benefit of a Tata truck, with best lifecycle cost, longer service runs and enhanced levels of driver comfort, resulting in best-in-class profitability and lowest payback period for operators, says Vinod Sahay, Head (Sales and Marketing), Medium and Heavy Commercial Vehicles, Tata Motors. Excerpts of the interview.

We are one of the first major players in India to get into cold forging.

We were the first company in India to successfully develop a fracture split connecting rod and this was a major breakthrough at that time. Our engineering capability is what differentiates us from others because of which we can produce very high quality and high precision products for the customers, says Viraj G Kalyani, Executive Vice President, Kalyani Forge. Excerpts from the interview.