NewsVoir
Bengaluru (Karnataka) [India], December 14: The second day of CII EXCON centered on India's transition towards self-reliance (Atmanirbhar Bharat), the production of components for global markets, and the current challenges faced by the construction industry.
In collaboration with Confederation of Indian Industry (CII) the Builders Association of India (BAI) organized a conference titled "Construction Industry Issues" to enlighten builders about the latest developments, reforms, and provisions.
A seminar on "Making the Indian CE Industry Atmanirbhar Bharat & Global Manufacturing Hub" was held to explore governmental schemes and future development opportunities in the construction sector, contributing to the success of the Make in India project. The component session delved into the capabilities of the Indian Component industry in supplying to the global market.
S.N. Reddy, President of BAI, emphasized the importance of environmental quality amid the challenges encountered by builders. Given the flourishing construction machinery market in India and the backing of government reforms, he said that India will become a leader in construction equipment manufacturing. He underscored the significance of the Excon exhibition and stated that it reflects the considerable investment opportunities envisioned by the Indian government for the advancement of physical infrastructure.
While addressing the Atmanirbhar Bharat Conference, Sanjeet Singh, Senior Advisor from NITI Aayog said, "As India aspires to self-reliance, our responsibility is clear-ensuring rapid and sustainable growth. Having leaped to the 5th largest economy from the UK, India's service sector flourishes at 45 to 55%, but manufacturing lags behind at 25% of GDP, a target we aim to achieve. Skilling is paramount for success. While ease of doing business improved, there's room for enhancement. Despite being a top 7 global FDI destination, the focus must shift to manufacturing."
In the component session, Rajesh Bhandari, Senior Managing Director, Gates India said, "The construction equipment industry is thriving in India and promises a robust future. While we're less than one-fifth of China, our trajectory is one of continuous growth. This journey is marked by a significant expansion, with equipment anticipated to grow by 8%. As we evolve, our specialization extends beyond excavation, reflecting a maturing industry that is diversifying and adding value to India's infrastructure landscape.
On the inaugural day of EXCON 2023, Shri Nitin Gadkari, the Minister for Road Transport and Highways in the Government of India, underscored the complex challenges confronting the Indian transport sector. These challenges encompass severe air pollution and a significant dependence on imported fossil fuels. Recognizing the detrimental effects on the environment and the economic landscape, there is an urgent need for a transformative shift towards sustainable solutions. A key aspect involves diversifying agriculture to incorporate energy and farming sectors, addressing concerns like migration, surplus crops, and escalating costs for farmers.
EXCON endeavors to build India's infrastructure in an ecologically sustainable manner, enabling projects on Smart Cities, supporting Swachh Bharat programs, promoting skill development and positioning "Make In India" - as the National Agenda for achieving holistic growth in the infrastructure and related sectors.
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