CE industry to touch $5 bn

CE industry to touch $5 bn

Poised to play a larger role in ´Make In India´ initiative of the Narendra Modi government, the domestic construction equipment industry has a potential to grow about two-fold to $5 billion by 2020.

"The domestic construction industry is set to become a driving force in ´Make in India´ initiative. From a $2.8 billion industry at present it has the capacity to grow to over $5 billion by 2020 on the back of infrastructure growth which is bound to take place under the present regime", CII senior executive and EXCON Chairman Vipin Sondhi told PTI.

EXCON is the international construction equipment and technology trade fair beginning here tomorrow that will see participation from about 800 companies from 22 countries. It is South Asia´s largest construction equipment and technology trade fair. The latest data available with the industry show the slowdown earlier has resulted in conservative projection for construction industry to $5 billion in the next five years but it is bound to grow exponentially post 2020 on the back of slew of steps by the current government.

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