CNH to Bolster 'Make in India' Portfolio Through New Greenfield Plant by 2026

For much of 2025, the Indian construction equipment industry found itself mired in what Shalabh Chaturvedi, Managing Director for India and SAARC at CASE Construction Equipment, describes as a “perfect storm.” A confluence of delayed highway projects, state funds diverted to populist welfare schemes, and a costly transition to cleaner engine standards left the sector facing a domestic slowdown that was largely product agnostic. Yet, where some see a slump, CNH Industrial, the parent company of CASE Construction Equipment, sees an opening to double down on the world’s most populous market.

Capacity in the Crosshairs

While the automotive industry often captures headlines with shiny passenger cars, the excavators and loaders that actually build the roads those cars drive on are a more visceral barometer of economic health. To prepare for an expected rebound, CASE is aggressively expanding its manufacturing footprint.

The company’s immediate focus is its Pitampur plant, which currently produces between 9,000 and 10,000 units annually. Within the next 18 months, CNH plans to increase this capacity by 20% to 25%. This Brownfield expansion (upgrading an existing site) is merely the prelude to a more ambitious Greenfield project (starting from scratch on new land).

“We are thinking about setting up an additional factory in India,” says Chaturvedi, noting that while the new plant will lean toward the agricultural side of the business, there will be significant interplays between the two sectors. The company expects to break ground on this new factory in 2026 and is currently scouting locations in discussions with various state governments.

CNH Industrial America LLC holds a 50% stake in CASE New Holland Construction Equipment (India) Pvt Ltd, while the other 50% is owned by CNH Industrial (India) Pvt Ltd. CASE, which is into the manufacturing of earthmoving equipment such as bulldozers, angle dozers, graders, scrapers, levelers, mechanical shovels, loaders, and off-road dumping trucks, among others, reported a net profit of Rs 187.2 crore during the year ending December 2024, up from Rs 154.5 crore reported in December 2023. However, the company's revenue during the same period went down to Rs 2,282.4 crore during the year ending December 2024 when compared to Rs 2,333.3 crore in the preceding year. 

India’s growing importance within CASE’s global operations is backed by substantial financial commitments. Over the past five to six years, the company has invested more than Rs 1,000 crore in its Indian operations, with a significant portion directed toward expanding its Pithampur plant.

The company now boasts a network of over 300 Indian suppliers, with roughly 100 already integrated into its Global Strategic Sourcing Program. This localization serves as a hedge against global supply chain shocks, such as the semiconductor crises that crippled the automotive and tech sectors during the pandemic. By migrating more of the supply chain to India, CASE aims to insulate itself from global disruptions while competing on cost with other Asian economies.

Looking ahead, the forecast for 2026 is one of "high single-digit" growth. The optimism is fueled by a good, though prolonged, monsoon, which is expected to eventually boost farm incomes and rural demand, a sector that accounts for 60% to 70% of machine demand. For CASE, the coming year is about preparing the terrain. “2026 should be a year where we sort of consolidate and prepare the ground for a good 2027,” Chaturvedi adds, before signing off.