Construction Equipment Sector Bets on Revival in Govt Spending
India's construction equipment industry has seen an abrupt slowdown this year, but the industry remains bullish, reassured by the government's development agenda.
By Shahkar Abidi
3499 Views
India's construction equipment industry has seen a marked slowdown in the current financial year, falling to a growth rate of just 3% for the first half from 25% in FY24. However, even as this sudden decline has caused some inconvenience for major players, industry leaders remain confident of the medium-term prospects for the industry.
They attribute the deceleration seen in the current year to a pause in the announcement of new projects due to the general elections that took place in April-June 2024. V. Vivekanand, President of the Indian Construction Equipment Manufacturers Association (ICEMA), however, foresees a rebound in ...
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