Strategic policies by the government are triggering a seismic shift in the Indian construction and mining equipment sector. Explore this interview as V G Sakthikumar, MD, and Whole Time Director of Schwing Stetter India, discuss how these measures are changing the demand landscape and driving the need for innovative, sustainable, and efficient technology that is raising the bar for the sector.

“The government initiatives have boosted the demand for high-quality, reliable, and technologically advanced equipment that can enhance the efficiency, productivity, and sustainability of the projects.”

How do you perceive the current state of the construction and mining equipment industry in India?

The current state of the construction and mining equipment industry in India is very promising and optimistic. The industry is at a peak and is on track to surpass the US, becoming the second-largest global leader by 2030 – only next to China. Infrastructure development will drive this impact across roads, railways, ports, and other areas. India is thriving not only as a robust market but also as a burgeoning manufacturing hub, and the growth trajectory is expected to contribute significantly to creating job opportunities and fostering economic development.

With the recent government initiatives, what changes have you observed in the market dynamics for your products?

With recent government initiatives, such as the National Infrastructure Pipeline, the Atmanirbhar Bharat Abhiyan, and the Production Linked Incentive Scheme, we have observed a positive change in the market dynamics for our products. These initiatives have boosted the demand for high-quality, reliable, and technologically advanced equipment that can enhance the projects’ efficiency, productivity, and sustainability. We have also seen increased customer preference for environment-friendly and energy-efficient products, such as electric vehicles and renewable energy sources.

How has your company embraced technological innovations in the design and functionality of your equipment?

Schwing Stetter India has adapted to the changing needs and demands of the construction and infrastructure sectors by delivering high-quality, reliable, and technologically advanced equipment that caters to the diverse needs of the customers. The company has also invested in research and development to bring out innovations that can enhance project efficiency, productivity, and sustainability. Schwing works closely with its customers to understand their requirements and provide customised solutions that suit their needs.

How does your company perceive the role of industry-related events in contributing to the strategic growth and development of the construction and infrastructure sector?

Our company perceives the role of industry-related events, such as Excon, as crucial and beneficial for the strategic growth and development of the construction and infrastructure sector. These events provide a platform for showcasing our products and innovations, networking with our customers and stakeholders, learning from our peers’ and competitors’ best practices and experiences, and exploring new opportunities and collaborations. These events also help create awareness and generate interest among potential customers, investors, and the general public about the latest trends and developments in the industry.

Can you share details about your latest product launches that are expected soon?

We are excited to unveil and highlight some of our new products and innovations during Excon 2023. We will display a range of new products at the OD 31, in a 4926 sq. meter space, including new tech-specific products that have been tailor-made to the rising market trends and requirements. With great new additions to our product range, we will use EXCON 2k23 as a platform to showcase our technological capabilities.

How do you expect Excon 2023 to impact your business?

We expect Excon 2023 to positively and significantly impact our business, as it will help us reach out to a wider and more diverse audience, showcase our capabilities and strengths, and generate more leads and sales. We also anticipate some unique experiences and opportunities from participating in this exhibition, such as interacting with industry experts and leaders, gaining insights and feedback from customers and end- users, discovering new markets and segments, and creating brand awareness and recognition.

CII Excon contributes to the overall development and growth of India’s construction and mining equipment industry by providing a platform for the industry players, the government, the academia, and the media to exchange ideas, share knowledge, showcase innovations, and address challenges. Excon also helps create a conducive and supportive environment for the industry by highlighting the opportunities and potential of the sector, promoting the best practices and standards, and facilitating policy and regulatory reforms. Excon is the largest and most prestigious event of its kind in South Asia, and it reflects the vision and aspiration of the industry to build India’s tomorrow.