Construction Equipment Sector Bets on Revival in Govt Spending

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 ...