Budget 2024: Key highlights

Key highlights of Interim Budget 2024

Boost on the cards for auto components?

The Indian automotive industry sector has a positive outlook for the upcoming Budget, with expectations for updates on the FAME 3 scheme, PLI sops, and GST revision.

Building the Future

The market for wheel loaders is seeing fresh traction due to the buoyancy in road construction activities. Fresh off take of coal due to a surge in thermal power production is adding to the demand.

NHAI grants 6,003 km of highway projects in FY23

The infrastructure project awarding activity picked up and gathered pace in Q4 of FY23 with NHAI awarding a total of 6003 km of projects in FY23 significantly below its FY23 target of 6500 km as stated in a report by Motilal Oswal Financial Services.

CE sales cross one lakh unit mark in FY2022-23

The Indian construction equipment industry recorded an excellent 26 per cent growth YoY with sales crossing the one lakh unit mark in FY2022-23.

Construction equipment sales grew 26% to cross 1 lakh mark in FY2022-23

YoY 28.5% growth in domestic sales, 3% growth in exports

The Rise of Equipment Rental

The equipment rental market in India is expected to continue its growth trajectory in the coming years, driven by factors such as increasing infrastructure development, rising construction activities, and growing demand for advanced equipment and machinery.

Much Better to be Safer than Sorry

Sustainable innovation is at the core of Volvo Construction Equipment. It is a work in progress and spans decades.

Progressive Outlook of the Indian CE Industry

Alternative fuels will be a fair play for the future of the CE industry as the Government is also pushing the same for making India self-reliant.

Sustainability at the Forefront

Going forward, product innovations will be at the core of Ammann’s sustainability efforts

Chasing Growth!

Despite rising input costs and transition to CEV stage-IV engines, the CE market is expecting a growth of over 11 per cent in 2022-23.

Use of automation in road construction may increase

Share insights on technological up-gradation that has happened recently or might happen in near future in the construction and engineering business.

There is an increase in demand for underground equipment

Sandeep Mathur, Brand Leader, New Holland CASE Construction Equipment, shares light on technological upgradation happened recently.

All eyes on Excon!

The year started with venues opening up slowly after a lull in the last two years. In line with the growth of the industry, the 11th edition of Excon—termed South Asia’s largest construction equipment (CE) and construction technology trade fair—will take place at the Bangalore International Exhibition Centre (BIEC) from May 17-21.

CII Excon 2021 to aid India to become second largest CE market by 2030

The Confederation of Indian Industry (CII) has announced the 11th edition of Excon, South Asia’s largest construction equipment, and construction technology trade fair, which will take place at the Bangalore International Exhibition Centre (BIEC), Bengaluru from May 17-21, 2022.

FM announces ‘PM-DevINE’ for North East

Union Finance Minister Nirmala Sitharaman announced a new scheme to give impetus to the development of the northeastern region.

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.

One of the major demand drivers is increase in demand for underground mining equipment

With the mining sector being one of the core industries of the economy, it has witnessed year-to-year growth. In terms of trends, there were positive signs in the manufacturing and mining activity that recorded a higher relative growth performance last year.

Budget 2022: Increased capex outlay for infrastructure development to drive demand for CE

The industry also welcomed the government’s efforts to mitigate the financial challenges of the MSME sector.

FM announces ‘PM-DevINE’ for North East

Union Finance Minister Nirmala Sitharaman on Tuesday announced a new scheme to give impetus to development of the northeastern region.

Construction sector: A huge contributor to country's development initiatives

Construction was among the significantly impacted industries due to Covi-19 and sales of construction equipment also fell globally, writes Gagan Pal.

Construction sector: A huge contributor to country's fast-paced development initiatives

Authored by Gagan Pal, Vice President- Sales & Marketing, Honda India Power Products Ltd.

Wheel loader market is dominated by 120-150 HP range equipment

In the current context, users prefer wheel loaders that deliver higher productivity at lesser operating costs, along with enhanced servicing of their machines across their work cycle.

Covid-19 has expedited the transition from manual processes to automated systems”

The demands on controllers and sensors used in construction machines, municipal vehicles, agricultural and forestry machinery, port facilities and cranes are extremely high. Units and machines are permanently exposed to harsh environments like heat, cold, moisture, mud, dust, shocks and vibrations and often even thunder and lightning.

Govt programmes will have direct impact on demand for bearings in the CE market

Sanjay Koul, Chairman and Managing Director, Timken India Limited

We expect the market for hydraulic excavators to grow by 20%

The excavator market peaked in FY2018-19 following three years of sustained growth led by increased government focus and investment in the infrastructure sector.

India may lose second largest stainless steel producer spot to Indonesia in CY2021: ISSDA

Massive capacity build-up by Chinese stainless-steel companies in Indonesia to become operational this year | Surplus production may be targeted at Indian markets

Jindal Stainless revenue up 36% YoY

JSHL’s sales volume stood at 182,474 tonnes, up by 23% over the corresponding period last year (CPLY).

The worst is over for the CV industry

In 2008, two leading players, Volvo Group and Eicher Motors, in the commercial vehicle business joined hands with a common vision of driving modernisation in the commercial transport business in India.

Rising Tide

Financial year (FY) 2020-2021 was a year of transition for the auto components industry.

Focus on infra to revive economic growth

The government’s focus on building infrastructure will create jobs and revive economic growth

How NIP has set the tracks for growth

Recently during an interaction with the Union Minister of Roads Transport & Highways Nitin Gadkari, the Minister reiterated that he was proud to have launched a CNG based equipment model of JCB.

Budget spurs order books

The Budget 2021 has won the approval of its utmost critics with most giving it a thumbs up. Infrastructure is the mantra for 2021-22 as the Finance Minister proposed to significantly enhance capital expenditure to Rs 5.54 trillion in the next fiscal, besides creating institutional structures and giving a big thrust to monetising assets to achieve the goals of the National Infrastructure Pipeline (NIP), which was launched in December 2019 with around 6,835 projects.

Budget focuses on infra to revive economic growth

Finance Minister Nirmala Sitharaman proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetising assets to achieve the goals of the National Infrastructure Pipeline (NIP)

Union Cabinet clears new divestment policy

The Union Cabinet cleared the new policy for Public Sector Enterprises (PSEs). A broadsheet for disinvestment is expected to be announced by Finance Minister Nirmala Sitharaman in the Union Budget.

Stainless steel industry seeks import duty cut on key raw materials

ISSDA seeks exemption of the 2.5 per cent basic customs duty levied while importing key raw materials

New Opportunities

Upcoming infrastructure projects in metro rail, bridges, railway and irrigation are going to drive the demand for foundation equipment in the coming years, writes Karan Chechi.

Mahindra sells 22,329 tractors in India in January 2020

Mahindra & Mahindra's Farm Equipment Sector (FES) announced its tractor sales numbers for January 2020.

Port Infra Needs Facelift

Developing new ports and terminals and the revival of old infrastructure at major ports in the country are expected to open up new opportunities for port equipment companies.

National Infrastructure Pipeline Gets Set to Flow

The Union Budget 2020-21 heralds the roadmap for investing Rs 103 trillion in the next five years.

Medium to long term outlook positive: Wilfried Theissen

The Putzmeister India Managing Director Wilfried Theissen termed the Union Budget 2020 positive on medium to long term outlook, but said challenges remain in the immediate to short term

Mahindra sells 22,329 tractors in India in January 2020

Mahindra & Mahindra?s Farm Equipment Sector (FES) announced its tractor sales numbers for January 2020. Domestic sales in January 2020 were at 22,329 units, as against 20,948 units during January 2019.

Infrastructure push drives CE demand

With the government is pushing for more infrastructure development in the country, construction equipment market will see demand growth in future.

ICRA revises outlook on CE sales negative

Industry volumes have contracted by 16 per cent in the key product categories of backhoe loaders, excavators and wheeled loaders.

THE ROAD AHEAD

The roads and highways sector is expected to bounce back soon with the government's corrective measures to combat slowdown and the large number of projects planned in the coming years. The road equipment players are bullish on the future growth prospects.

ICRA sees negative outlook on CE sales

Following a sharp correction in unit sales amidst slowing economic growth and infrastructure investments, both by the public and private sector; and tight liquidity environment, ICRA has revised the outlook on the construction equipment (CE) sector to negative.

Towering opportunities

Choosing a tower crane is increasingly about safety and productivity features, as customers seek to lift more with less power, upgrade to a higher capacity economically, and safely use multiple cranes at space-constrained project sites.

CPM insurance in CE

India's economy is big and is getting bigger. The construction industry is the second largest industry in India after agriculture.

On a Smooth Path

As roads and highways construction continues to be on the top gear, more mechanisation is taking place in rural roads with motor graders finding more traction in the coming years.

Setting New Standards

Adding value to equipment life

Industrial lubricants play a major role in improving the operational efficiency productivity of an equipment. Currently, the demand is for thinner lubricants that provide longer oil drain intervals.

1,000-1,500 more AWPs may be required by end of this year

Safety, productivity, and less downtime determine the usage of AWPs in a project. AWPs are not only a safety related equipment, but it also enhances the productivity and speed of the project, thus contributing to the profitability of one's business.

Global metal market trends

The global economy is doing well. Growth already beat expectations this year and the global economy will continue to quicken in 2018.

Ambitious on Indian infra sector

Infrastructure sector is a key driver for the Indian economy. The sector is highly responsible for propelling India's overall development and enjoys intense focus from government for initiating policies that would ensure time-bound creation of world-class infrastructure in the country.

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.

In the Limelight of Infra growth

Construction equipment today not only makes it easier to complete the project at hand, but also ensures the efficient use of labour, time and money. About 30-35 per cent of money involved in construction is dedicated towards procurement of good machinery and equipment.

Mahindra tractor sales post 39 per cent growth in February 2018

Mahindra & Mahindra?s Farm Equipment Sector (FES) announced its tractor sales numbers for February 2018. Domestic sales in February 2018 were at 19,280 units, as against 13,834 units during February 2017, posting a growth of 39 per cent. Total tractor sales (domestic and exports) during February 2018 were at 20,483 units, as against 15,007 units for the same period last year. Exports for the month stood at 1,203 ??units.

Budget 2018-19: Infrastructure, Rural Development key

Infrastructure development has been one of the top priorities of the Union Budget 2018-19 presented by the Finance Minister Arun Jaitely in Parliament on February 1. Major investments and allocations are in roads, railways and rural development including agriculture and rural economy. Urban infrastructure development has also received a boost with the allocation for Smart Cities mission.

Backhoe Loaders: Back in Action

Backhoe loader is the front-runner among the infrastructure equipment used in the country with almost 50 per cent of the market share in number of unit.

The big movers

Being the major equipment class in the infrastructure development activities, Earthmoving equipment sees further demand growth in future owing to an anticipated growth in construction activities.

ICEMA Wins,Ban Dropped

Recently, the Supreme Court heard an application by the Indian Construction Equipment Manufacturers' Association (ICEMA) and the Tractor Manufacturers' Association (TMA) as they sought a clarification on the ban on the registration of BS-III vehicles after March 31, 2017.

Equipment & Technology for Infrastructure is no Luxury!

The Supreme Court's recent clarification that construction equipment and agricultural equipment are not included in the BS-III vehicle ban was a sigh of relief to the concerned industry.

Back on Growth Path

Given its versatility and mobility, backhoe loader finds great use at almost every construction site, both urban and rural India. This multi-purpose machine continues to perform a variety of tasks at sites and is used for digging, dosing, levelling and lifting activities.

Mayday! Mayday!

Misinterpretation of Supreme Court BS III ban has brought the construction equipment and tractor industry on its knees.

Concrete Show India to facilitate construction, infra markets

UBM India announced the 5th edition of the Concrete Show India (CSI) dedicated to the construction and infrastructure sector. Covering key areas including roads and highways, housing, airports, ports, power, rail, dams and bridges, Concrete Show India 2017 will be held at the Bombay Convention & Exhibition Centre ( BCEC), Goregaon, Mumbai from May 4-6, 2017.

A Constructive Budget

The construction equipment segment in India has something to cheer about from the Budget measures such as more fund allocation to rural roads and highways construction, and announcement of infrastructure status to affordable housing.

BUDGET 2017 | PUBLIC SPENDING TO DRIVE SALES

Although there are no landmark announcements in this year?s Budget, a special thrust on transport infrastructure development and affordable housing will definitely gift some market opportunities to the CE segment.

Escorts profits grow

Escorts Ltd reported a profit of Rs 22.7 crore in the quarter ending December 31, 2016, up by 11.2 per cent as against a profit of Rs 20.4 crore in the corresponding quarter in the previous fiscal. The profit reported is after one time loss from discontinued operations in respect of its Auto Products business of Rs 30.8 crore. The net profit for the nine months ending December 2016 was up by 54.4 percent at Rs 101 crore as against Rs 65.4 crore in the corresponding period last year.

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 | Barco India

We appreciate the deep-rooted changes introduced in the Union Budget 2017. The budget further reflects the commitments of the Indian Government to truly promote digitalisation in the country. This includes allocating Rs 10,000 crore for Bharat Net Project which is dedicated to extending high-speed broadband, Wi-Fi hotspots and fibre optic network in India, especially to the rural landscapes, Gram Panchayats and more.

Budget Reactions | Allcargo Logistics

The Union Budget 2017 with an agenda to transform, energise and sanitise India is reasonably balanced for an inclusive growth of the Indian economy. A couple of initiatives announced in the budget presented on February 1 bring some cheer to the sector.

Budget Reactions | Knight Frank India

This has been one of the path-breaking budgets with far reaching changes especially for the real estate sector. It is positive that the real estate sector has come in the central spectrum of the Union Budget. This has come at a time when the beleaguered sector has been looking at measures to boost the sentiments. The real estate sector which was the hardest hit by demonetisation move will be one of the major beneficiaries of this budget.

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.

Compact Road Equipment Market to Grow

Developmental work in the North-East and far-flung rural areas will drive a robust growth of road building equipment, with a twist - the market for smaller-sized equipment to suit applications and delivery logistics requirements will be the gainer.

Backhoe Loaders Get a Rural Boost

Gone were the days when the backhoe loader market was exploding in all facets of India?s infrastructure development. All recognised suppliers were registering negative to flat trajectory growth since FY 2011.

The current Union Budget will spur rural demand and infrastructure growth

The warehouse market in India is growing faster than the GDP. It will continue to grow at a CAGR of 12-13 per cent in the coming years and is largely dominated by unorganised sector (90 per cent).

Container Handling: Future?s Bright

Of Truths & Dares

The Indian economy is to grow at 7.5 to 7.75 per cent GDP, which by global standards, is the highest growth. However, the impact on the ground is minimal.

Setting New Standards

SAMIL aims to capture a large share in the market as the government has allotted huge amount towards construction of new highways and road network all over the country.

Budget spells fiscal discipline

Finance Minister, Arun Jaitley, presented the Union Budget 2016-17, explaining the backdrop of global economy slowdown from 3.4 per cent in 2014 to 3.1 per cent in 2015; battered financial markets and contracted global trade.

Bosch posts 5.7 per cent growth in net sales, income

Bosch posted net sales and income from operations of Rs 2,598 crore in Q2 of the financial year 2015-16, registering a 5.7 per cent increase over the comparable period of the previous year.

Excon 2015- Indias Premium Showcase of CE Industry

Positive sentiment prevails in the infrastructure equipment industry which is abuzz as Excon 2015 is around the corner. Growth prospects are visible over the horizon, in light of the positive trends reflected in most of the economy indicators for India.

Graded Up

If tightened completion time is demanded as in the case of Delhi peripheral ring road by Supreme Court, it will sure to up the demand for advanced, high capacity motor graders.

JCB keen on India?s infrastructure development

JCB expects India to become its largest market by 2018. India is the third largest revenue contributor, after Europe and North America, accounting for about 17 per cent of JCB?s revenues, including exports. In terms of machines sold, it is JCB?s largest market.

A Healthy Outlook

Increasing investments and cargo traffic point to a healthy outlook for India?s ports sector. Cargo traffic, which was 976 million metric tonne (mmt) in 2012, is expected to reach 1,758 mmt by 2017.

Walking the Talk

The promises of ?Acche Din?coupled with the the ?Big Bang? expectations from the FY16 Union Budget, are more to do with the government walking the talk and bringing in continuous reforms which positively impact the financial and economic landscape.

Mining Growth

India is on track to overtake the US as the second-largest coal consumer after China this decade. India wants to more than double coal output to 1.5 billion tonne by 2020. The central government has already taken specific actions including e-auctions of coal blocks; 28 blocks are already allocated and more blocks to be e-auctioned soon.

Mining, Construction to Lead Growth of Tyres

The current market for mining and construction is growing and with the initiatives taken by the new government, it is poised to gain momentum in the coming years. Continental India foresees this as a key growth enabler for tyre industry.

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.

Credit demand may pick up in the second half of FY 2015-16

In July 2014, the current government presented its first budget which was predominantly growth-oriented. The announcements made in the budget represented measures to tame inflation and provide a boost to investments in manufacturing and infrastructure sector.

The time has come

As per one of the recent reports ?impatience was creeping in among business men as nothing has changed on the ground in the first nine months of Modi government?; and if we assess the time period for this ?impatience?, it is not the couple of months these ?business? communities have looking for some action from the government, but it has been over a couple of years! Opportunities are aplenty.

B-DAY

It is finally official! India's $1.8 trillion economy grew almost 50 per cent faster in 2013-14 than earlier thought. The economy grew 6.9 per cent, not the 4.7 per cent as per chief statistician TCA Anant.The new methodology for measuring GDP

2015 - The year of recovery?

Off-Highway Research has predicted that the number of units sold will double to 89,030 by 2018 from the current year?s 46,755 units. As per the analysis, the real trigger of growth becomes available in 2017-18 when there is a dramatic surge

Many German companies plan to invest more in India

An overwhelming majority of bC India exhibitors (79 per cent) expect the economy in the region to improve and to continue growing, says Rajesh Nath, Managing Director, VDMA India Services.

New-generation Anti-collision Devices

Everest Engineering will showcase its new-generation anti-collision devices for tower cranes at bC India 2014. Everest Engineering will unveil its new generation anti-collision devices for tower cranes combined with safe load indicators. This will be one of the attractions in the show.

Our efforts are to provide the best product and after-sales support.

In developed countries, there are legislations in place which ensure AWPs are used for working at heights. We strongly believe that such legislations should come in India too, says Souma Ray, Director, Haulotte India. Excerpts from the interview

Budget bites

The Union Government recognising the need for revival of investment cycle had already extended the excise duty cut on capital goods for another six months in June 2014 itself.

Movers & shakers