New Delhi: India's mining and construction equipment industry posted gross sales of more than 140,000 units in the last financial year, a year-on-year increase of 3 percent, while exports surged 31.5 percent, TKIL Industries Managing Director and CEO Vivek Bhatia said on Tuesday.
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Speaking at the Mining & Construction Equipment Summit, organised by the Confederation of Indian Industry (CII) with the Ministry of Heavy Industries, Bhatia attributed the domestic growth to sustained public investment in infrastructure across all areas. He described the sector as a critical enabler of economic growth, underpinning infrastructure development, the expansion of mining and the supply of minerals essential to manufacturing, energy security and technological advancement.
The jump in exports pointed to a structural shift, Bhatia said, with Indian manufacturers moving beyond domestic demand to build a stronger presence in overseas markets. He linked the trend to greater localisation, improved product quality and competitive pricing.
The industry, he added, was increasingly adopting mechanisation, world-class equipment and the latest generation of technologies.
India was at a defining moment in its development as it advanced towards a USD 5 -trillion economy and pursued the Viksit Bharat 2047 vision, Bhatia said. The expansion of highways, railways, ports, airports and urban infrastructure, alongside renewable energy, manufacturing and a growing focus on critical minerals, had created unprecedented opportunities for the sector, he said.
"Behind every kilometre of road built, every mine developed, every metro corridor commissioned and every industrial project completed lies the contribution of the mining and construction equipment industry," Bhatia said.
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Bhatia said critical minerals were becoming increasingly strategic as economies worldwide shifted towards cleaner energy and advanced manufacturing. India had recognised this priority, he said, and was taking policy measures to boost exploration, mining, processing and beneficiation to meet its resource needs and ensure economic self-reliance.
