JCB India, the leading earthmoving & construction equipment manufacturer, said that the two sectors i.e. railways and irrigation will propel the growth of construction equipment industry. The company pegged the overall construction equipment growth to 10-15 per cent for 2017.
Vipin Sondhi (JCB India MD & CEO) said, “We expect 10-15 percent growth this year. But it is not enough. If there is infrastructure deficit in the country then the earth has to be dug into. Therefore, if railways and irrigation come up with their projects, then it will give a boost to our industry.” He also emphasized that the backlog of projects in railways and irrigations need to be cleared soon.
The roads and highways sector is leading the growth in construction equipment industry, he added. The industry posted a spectacular growth of 45 per cent in 2016 after hitting 50 per cent de-growth during April 2012-September 2015 period. The construction equipment industry in India is expected to touch USD 6 billion by 2020.
JCB India achieved a total turnover of Rs 8,000 crore in 2016. The 20 per cent of revenue was contributed from exports, which mostly came from Middle East, South East Asia and Africa.
JCB has three manufacturing and assembling plants located at Faridabad, Pune and Jaipur.