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.

Record earnings for Volvo Construction Equipment in Q2 2023

Volvo Construction Equipment (Volvo CE) proves it is performing today while transforming for tomorrow with record earnings for the second quarter 2023, alongside its continued investment into sustainable change.

US CE rental sales to rise 12.5% in 2022

The American Rental Association (ARA) forecasts significant growth for equipment rental revenue in the United States this year despite economic indicators being described as mixed and uncertain.

Gmmco: A one-stop solution provider

Customers look to Gmmco to offer complete solutions be it new equipment, used equipment, rental, buyback, tailor-made product support solutions, etc.

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

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.

L&T Finance launches Warehouse Receipt Financing

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

Towards a “Greener Future” together

Developing businesses are treating “sustainability” as the crucial goal of their method and operations to escalate growth and to compete in the global market.

We are keen to showcase our readiness in building the India of tomorrow

BKR Prasad, Head – Marketing & Product Development, Tata Hitachi Construction Machinery, speaks on the key products on display during bauma CONEXPO.

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

Construction equipment industry in difficult waters!

As recently as February, incoming orders in the construction machinery industry had manufacturers with production facilities in Germany looking ahead to 2022 with the hope that single-digit sales growth of 7 percent could be achieved if the situation on the supplier side improved.

Construction equipment industry in difficult waters!

Some companies are on short-time work because of a lack of material and preliminary products.

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.

Gmmco: A one-stop solution provider

Established in 1967, Gmmco is part of the $2.8 billion diversified CK Birla Group. Gmmco is a priority Caterpillar dealer for south, central and western India selling mining, construction and energy equipment to customers including CIL, SCCL, and other state-owned enterprises. Gmmco offers a one-stop solution shop for all industrial requirements.

Gmmco: A one-stop solution provider

Gmmco, a part of the $2.8 billion diversified CK Birla Group, has a wide portfolio of construction equipment, including excavators, loaders, motor graders and off-highway trucks. Proven technological leadership, superior build quality, optimum costs and an efficient service network make Caterpillar equipment stand apart from competitors.

Opportunities for 45t class excavators are immense

Rahul Shorey National Head – Construction, Tata Hitachi Construction Machinery Company.

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

A powerful transmission

Transmission, a key component in a construction equipment vehicle, plays a major role to the functionality of the vehicle, especially in the high frequency and heavy application.

Bounce back

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

Cat nextGen excavators Day celebrated

Gmmco and Caterpillar Inc, along with their customers, celebrated the Cat NextGen Excavators Day.

Mining reforms have brought the confidence back

Souma Ray, Director, Haulotte India shares his thoughts on the AWP market outlook and the company’s activities.

Cat NextGen Excavators Day celebrated

Cat NextGen Excavators Cat 323D3, Cat 320D3 and Cat 320D3 GC were showcased along with their key benefits and features

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.

We proactively pursue when it comes to adopting digital technologies

As a major player in heavy-duty mobile cranes market in India, TIL has consolidated its presence over the years.

TECH-MOVES

With the government plans to invest Rs 102 trillion in infrastructure development in the next five years, the demand for construction equipment will be immense.

Cautiously Optimistic

The government's various initiatives on revival of infrastructure sector and favourable policies have driven the growth of Indian construction equipment market in the past 2-3 years.

iQuippo organises Paison Ki Nilami

Commenting on this occasion, Anant Raj Kanoria, CEO, iQuippo, said, ?We have noticed that in the market customers always want to negotiate pricing and interest rates and we through our platform want to digitise and make this process transparent

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.

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.

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.

Riding on infra push

Pick-up in infrastructure spending and construction activities is expected to drive the demand for tipper trucks in the coming years.

Looking for new growth avenues

The growth of crawler cranes market is stagnant with lagging demand from heavy lift applications. However, the market is expected to bounce back with the demand for medium capacity lift applications from the upcoming infrastructure development projects.

Cash flow is paramount for sustaining equipment market growth

Sunbeam Infra Equipments (A Division of Sunbeam Generators) launched a trailer concrete pump of 50 cu m per hour capacity and mixer pump at bauma this year.

Reaching out to infra needs

Government's high spending on infrastructure projects drives the demand for construction equipment while earthmoving equipment being the largest used equipment category leads the growth.

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.

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.

New Growth Avenues

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

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).

More engines of growth needed

Off-Highway Research reports a turnaround in the global construction equipment (CE) market, which is expected to grow 16 per cent this year.

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.

Bosch registers growth in gross sales and income from operations

Bosch Limited, a leading supplier of technology and services, posted gross sales and income from operations of Rs 2,770 crore in the first quarter of FY 2017-18, thus registering a 3.3 per cent increase over the same period of the previous year

Will CE cross 'Mount 52,500'?

Will CE cross its previous peak of 52,500 units achieved in 2011 this year, despite the additional burden caused by GST? The majority feels that the peak is within reach.

FROM RECOVERY TO GROWTH

The construction market in India is the second largest in Asia-Pacific Countries (APAC) region and is expected to become the fastest growing market in the region by 2025.

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 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 | 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.

Industry Reactions | Policy Matters

At the recently concluded BAUMA CONEXPO INDIA at Gurugram, I had the opportunity to listen to industry voices on the impact of demonetisation, the new monetary policy announced by the Government and the upcoming GST regulations in the country. Most have accepted demonetisation as ?fate accompli? and taken it in their stride to manage the change.

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.

New products for the mixing applications will be displayed

The bC India 2014 at Greater Noida was held under a lot of uncertainties and hopes. There was a new government at the Centre which was yet to come out with its policies. The banks were under a lot of pressure due to NPAs and customers were under huge stress due to rising interest rates.

Paving on a High

Asphalt paver was developed by Barbar Green Co that originally manufactured material handling systems. In 1929, the Chicago Testing Laboratory approached them to use their material loaders to construct asphalt roads.

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.

We expect a CAGR of 10 per cent during 2016-2020 in material handling sector

With the Prime Minister?s ambitious plan of ?Make In India? taking root, we expect to see good growth in manufacturing and consequently in logistics and distribution activities for the next few years,? says Cavas Dumasia, Vice President - Sales & Marketing, Godrej Material Handling Division.

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.

Cat 3600 Advantage

GMMCO and Tractors India Pvt Ltd (TIPL) launched Cat 3600 ADVANTAGE special purchase bundle with the Cat 320D2 at Excon 2015.

Optimising Fuel Efficiency

Transmission solutions play a vital role in the overall performance of an equipment. Availability of the latest technologies in transmission solutions have helped OEMs to improve the efficiency level of their equipment.

Sour CE Issue

Essentially, CE selection and procurement is a complex metrics-based decision making activity that requires active involvement of the concerned stakeholders of an organisation.

Crane Owners Association Meet

The announcement of new office bearers, unveiling new website of the association and felicitation of Ashwin Gandhi were the highlights of the third AGM. The third Annual General Meeting (AGM)of the Crane Owners Association of India (COAOI) was held on September 30, 2015 in Mumbai. The meeting started with the minutes of the last year?s Annual General Meeting and a recap of the major activities during the year.

Yuan Devaluation Spells Gloom

The recent devaluation of Chinese Yuan by 4 per cent has triggered a global crash of stock markets. Indian BSE index has dropped by over 16000 points and there is more to come.

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.

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.

Portable Energy Solutions

High power deficit coupled with significant economic growth potential will drive the growth of portable power market. Portable energy solution plays a major role in verticals such as construction, mining, exploration and oil and gas.

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.

Hiring sector to regain top position in rental equipment purchase

Many infrastructure projects were announced in 2013 and 2014 which got awarded to several Infra companies and contractors after competitive bidding. Quite a few of these however got stalled due to land acquisition issues, environmental clearances and ability to arrange funds.

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.

CE Sector to Grow

Among the major global markets for construction equipment, the demand of construction equipment in China suffered a steep decline after peaking in 2011. This trend continued in 2014; however, future demand forecast is expected to be stable.

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.

Demand for mining equipment from PSUs is expected to increase

Gmmco is fully geared up to serve its customers with efficient product support, so they achieve maximum uptime and productivity of CAT fleet, says S Ananthakrishnan, AVP, Mining Project Sales, Gmmco. Excerpts from the interview.

Demand for mining equipment from PSUs is expected to increase

Gmmco is fully geared up to serve its customers with efficient product support, so they achieve maximum uptime and productivity of CAT fleet, says S Ananthakrishnan, AVP, Mining Project Sales, Gmmco.

CE industry is to grow in the long term at a CAGR of 17.5%

The construction equipment (CE) market in India will be driven by increased activity levels in every sector as there are massive infrastructure gaps yet to be bridged, says Samir Bansal, General Manager, India, Off-Highway Research.

Nothing Beats An ACE

ACE is a dominant player in the cranes market having introduced innovative crane solutions/products from time to time. ?The growth of the Indian construction equipment (CE) industry is dependent on three factors

Portable Power Solutions

With the global economy opening up, the industry sees a positive impact on the growth of Indian market and the opportunities in export market.

Powered for the long haul

Commercial vehicle OEMs - domestic and global - have pumped in investments, augmented capacities, launched global platform strategies, enhanced touch points, and stressed on soft solutions to suit the demands of emerging markets.

Budget boost for SMEs may not be enough

The Union Finance Minister Arun Jaitley announced a slew of measures to boost the morale of small and medium enterprises (SMEs) in the Budget, including a Rs 10,000 crore start-up fund for new businesses and an investment allowance of Rs 25 crore.

Movers & shakers

Batching solutions

The recent Budget has brought back smiles to many stakeholders of various verticals; however, the key seems to be implementation on the ground level. On a positive note, VG Sakthikumar, Wholetime Director - Operations, Schwing Stetter India, says, ?Definitely there is a positive movement.

Sandvik Construction sales slip

Sandvik Construction?s sales for the second quarter of 2014 were down three per cent compared to last year at SEK 2.28 billion ($335 million). Operating profits came in at SEK 51 million ($7.5 million), a drop of 64 per cent on last year, for a margin of just 2.3 per cent.

AMW and L & T Finance announce financing relationship

AMW Motors has entered into an agreement with L & T Finance to provide competitive retail financing options for its range of medium and heavy haulage vehicles and tippers. The Memorandum of Understanding was signed by A Ramasubramanian ? President AMW Motors and GC Rangan, COO, L&T Finance.

We plan to customise products for our Indian customers.

In China, XCMG is the market leader in wheel loaders, with a yearly output of 40,000 wheel loaders from its recently set up facility. We can make available any model the customer wants, right from 1 tonne to 12 tonne class, says H V Kulkarni, Director - Marketing, XCMG Machinery (India). Excerpts of the interview.

Cashing in on opportunity

Irrespective of the current slowdown, most companies have plans to develop their market further in India by setting up new facilities or expanding existing ones, introducing innovative marketing strategies,

Constant value engineering makes TIL the most competitive in the cost-vs-value equation

Introduction of the TIL-Astec range of equipment in track plants, wheeled plants, stationary plants and the manufactured sand segment in India has set a new benchmark in terms of technology, capacity, performance and total cost of ownership,

Manufacturing will be the Key

The worst may not be over yet for the Indian manufacturing sector. Lack of growth in the manufacturing sector continues to be the Achilles? heel of the Indian economy, according to Finance Minister P Chidambaram. Emphasising the need to focus on manufacturing and exports, Chidambaram announced a goal to increase the share of manufacturing in GDP to 25 per cent and to create a hundred million jobs over a decade, in his interim budget speech.

Road 2 recovery

Despite the present day gloom in the market, the future for the construction equipment sector, especially for the road equipment segment in India, still holds much potential as this sector has a profound and immediate impact on the country?s economic growth. Off-Highway Research is optimistic about the growth in demand for road equipment and forecasts growth at a CAGR of 12.67 per cent over the next five years. Agith G Antony finds out more about the positive vibes in the industry.

The growth of road equipment segment will be about 15 per cent by 2017

Last year, we took an aggressive approach with the launching of new products in spite of the recession. The objective was to be prepared and match customer expectations and take a chunk of market share when the economy turns around, says R Nandagopal, Chief Executive Officer, Construction Equipment Business, Greaves Cotton. Excerpts of the interview.

We have the best products, the best services and of course, the best quality

Putzmeister has been in India for more than seven years and we are here to stay. We are committed to India, its people, its future and we are continuously developing new products for our valuable customers

RBI raises repo rate

The Reserve Bank of India (RBI) has raised interest rates to take on rising inflation, according to the RBI Governor Raghuram Rajan. RBI said that if retail inflation eases as projected, it does not foresee further near-term monetary policy tightening. The rate hike was driven by expectations of high but moderating consumer price index (CPI) inflation.

It's showtime!

The demand for construction and mining equipment has been hit hard in the last couple of years, largely due to the high interest rate regime and slowdown in infrastructure. The last year, especially, saw regulatory roadblocks, liquidity crunch and lack of investments which all led to a sharp decline in the demand for mining and construction equipment

The Rupee Impact

The depreciation of the Indian rupee has had its adverse impact on the manufacturing sector, especially OEMs who import various components. To the extent possible, OEMs are trying to localise production, but that is just a part of it. What the industry is looking is for concrete measures that can bring life back into the economy and trigger growth in a sustainable way.

We expect a huge spurt in demand for construction equipment from Q4 2014.

Low downtime of the machine is a major factor under consideration while buying new equipment. We have a very strong and focused after sale service with a very efficient and trained service staff. We are also looking into new initiatives like SAP enable part support in all our design and mobile service, says Anil Bhatia, Director Sales and Marketing

We will increase the value of our OTR tyre by developing the quality of our service.

Our goal is not just supplying the OTR tyre but providing the additional value for the custo?mers on top of the OTR tyre supply, says Tomio Fukuzumi, Managing Director, Bridgestone India, in an interview with Sudheer Vathiyath. Excerpts from the interview.

The group will invest over EUR one billion to further strengthen and expand ZF's position.

ZF is a leading worldwide autom?otive supplier for driveline and chassis technology, with 121 companies in 27 countries. In 2012, the group achieved a sales figure of EUR 17.4 billion with about 75,000 employees. ZF was founded in 1915 for the development and production of transmissions for airships and vehicles.

Stalled but Hopeful

In spite of the present slowdown and resultant sluggishness in the CE market, the long- term growth prospects are still intact; and experts view the huge infrastructure deficit as a major growth driver and prudent steps from the government can bring India back on the growth trajectory.

Auto component makers seek govt relief

With the component manufacturers facing the heat of the slowdown, they are now expecting some relief on the lines of 2008-09, either in the form of excise duty cuts or interest rate cuts or otherwise.

Speco JV with the basic group will have a manufacturing set up in India soon.

Speco is the only company which is constantly upgrading the techno?logy by introducing an air automised burner to reduce the fuel cost. The new design dryer has reduced maintenance. The new vibrating screen design ensures good quality, says VP Mundra, Director, Basic Engineering Equipment.

We have positioned ourselves as a true infrastructure partner rather than a lender

More projects, faster enviro?nm?ent and forest clearances, support in land acquisition and a general clarity in policy are the key. Any infrastructure project takes time and stability of policy is a must to ensure that investment flows, says DK Vyas, CEO, Srei BNP Paribas.

We at Shriram treat FTUs as niche and are focused on supporting small customers.

All bottlenecks on the project execution side, i.e., environmental, land clearances, financial closures, allocation of funds, and awarding of contracts need to be tackled on an immediate basis, or else the industry will see a major down-turn and many good operators will exit the segment, says Rakesh Chandra, Vice President and Risk Head, Shriram Equipment Finance Company. Excerpts from the interview.