The government has acted upon its intentions by initiating various steps to boost industrial output.

“We believe the central government’s decision to focus on infrastructure to revive the economy, subsequent announcements on policy reforms, stepping up public investments in various infrastructure sectors has led to an increase in demand in these sectors from early 2016. The government has acted upon its intentions by initiating various steps to boost industrial output; such as releasing investment in stalled infrastructure projects, increased investment in roads, railways, ports, and inland waterways,” Vivekanand Vanmeeganathan, Country Head and Managing Director, Caterpillar India said while speaking about the recent performance of the construction equipment industry in India.

He further adds, “The Ministry for Road Transport, Highways, and Shipping, the nodal Ministry for some of the vital infrastructure sectors, has announced setting a target of $ 377 billion investment in infrastructure over a period of 3 years. Of proposed investment in infrastructure, $ 119 billion would be spent for developing 27 industrial clusters, while $ 74 billion would be invested in road, railway, and port connectivity projects. When such levels of investments start materialising, it is expected that will trigger positive growth across various infrastructure sectors. This is also anticipated to lead to demand acceleration in the construction equipment and allied industries that are related to these sectors.”

Giving an account of a recent report by Indian Construction Equipment Manufacturers Association, (ICEMA), he said, “The report pegs the domestic construction equipment industry to grow to $5 billion by FY2019-20 from the current size of $2.8 billion. This growth projection is quite encouraging.”

Bauma Conexpo India 2016
Bauma Conexpo is a forum that provides an opportunity for Caterpillar, to strengthen and build relationships with the customers and understand their needs and expectations. At the event, the company will showcase a few Catrepillar products, and solutions that ensure that the customers complete their projects, meeting the quality standards they are measured by, within the time constraints that they face, profitably.

According to Vanmeeganathan, such avenues for interaction would definitely be of help to the customers of Caterpillar as they target new projects and opportunities. “Bauma Conexpo India  2016 is an excellent opportunity to tell the Caterpillar story,” he concludes.