How did you successfully manage your business in the Covid times? What were the key drivers for your growth? 

COVID-19 had a huge impact on the industry and it affected us at CASE too. Supply chains were severely disrupted owing to the sporadic lockdowns in multiple regions across the global market. We are grateful for the multiple initiatives taken by the Indian government which will stimulate growth and help the industry to bounce back. Moreover, with the nationwide vaccination drives and drop in the number of cases, normalcy in operations seem to be underway. 

To recover the loss that affected the profit margins, we have been offering flexible payment options to our consumers such as easy loans, extended warranties, easy EMI, etc., to provide a hassle-free purchase experience. 

Overall, we are hoping to improve the business performance as compared to last year.

How do you evaluate the recovery in the construction equipment market so far? 

The year began with the second wave in India which imposed a threat to the industry. There was a sudden negative response in April 2021 when the demand started slowing down. The second wave proved to be challenging because the manpower was affected; and manpower is the basic requirement for construction industry. 

Though there were limitations during the pandemic that caused few setbacks, the sales of construction equipment increased over the quarter. Recent Government initiatives and increased spending on infrastructure projects has been a key growth driver for the industry. According to IBEF, the $1.4 trillion National Infrastructure Pipeline can be an important driver for the construction equipment industry.

Nitin Gadkari, Minister of Road Transport and Highways recently set a target to expand about 60,000 km of National Highways (NHs) by 2024, followed by a slew of announcements on highway projects in Tamil Nadu, Kerala, West Bengal, and Assam which are expected to provide the industry a much-needed boost. The government’s plan to invest `1.97 trillion in the manufacturing sector over the next five years will also concurrently benefit the industry. 

With steady growth, the industry is well on its way to recovery. This being said, we hope that the government continues the initiatives to bring in more growth to the industry. 

Can technology and digitisation be a key factor in driving your sector’s growth? 

Digitisation and use of technology has been a requirement since, the onset of the pandemic. The industry needs to fully embrace the potential of digital driven businesses. Using technology to manufacture products and for other operations will be beneficial in the long run. Though, some companies in the market.

may find technology costly, the results of using it in business can be fruitful in the future. Having a digital-first approach will build a strong base for the industry to grow and improve productivity. Technology and digitalisation is a factor for the sector’s growth because adapting to it can bring a wider effect on the entire industry and redefine the process and skills required to operate them. With adequate training to the employees and manufacturers, this will not only enhance the quality of work but also provide scope for innovative concepts.

At CASE, our goal is to provide world-class manufactured machines for maximum productivity and ease of usage. We always add newer technology to our machines which are user-friendly and fully equipped to save downtime for the customers. 

How do you assess the growth prospects for the next 5 years in the mining and construction equipment market? 

As mentioned earlier, the new government initiatives and plans are in the pipeline and we are hopeful that the infrastructure projects will bring new opportunities for us. According to the IBEF report, India is expected to become the world’s third largest construction market by 2022. Huge investments and infrastructure projects will lead to greater opportunities for the equipment industry.

Nitin Gadkari recently set a target to expand about 60,000 km of National Highways (NHs) by 2024, followed by a slew of announcements on highway projects in Tamil Nadu, Kerala, West Bengal, and Assam which are expected to provide the industry a much-needed boost. The government’s plan to invest `1.97 trillion in the manufacturing sector over the next five years will also concurrently benefit the industry. In addition, the upcoming eight-lane Delhi-Mumbai expressway is worth `98,000 crore is also anticipated to generate employment opportunities across the sector giving it an additional push towards recovery.

Projects like these by the government will lead us to a brighter future with an increase in revenue.