Today is last day of 10th edition of EXCON – The International Construction Equipment and Technology Trade Fair took place at the Bangalore International Exhibition Centre (BIEC) between the 10th and 14th of December 2019.
The event was scheduled at a time when continued investments in Infrastructure development is needed to ensure sustain growth in India. This is also an important growth driver for India’s construction equipment industry.
In order to sustain investment in infrastructure, the Government of India has granted sops, including a large number of special economic zones (SEZs), to the capital goods industry of which construction equipment is a part; especially with an impetus to increase exports.
Confederation of Indian Industry (CII), India’s Premier Industry Association is organising Excon 2019. CII is supported by the Indian Construction Equipment Manufacturers Association (ICEMA) as Sector Partner for the event.
INDIA’S SUSTAINABLE DEVELOPMENT REQUIRES INVESTMENT WORTH OF RS 50 TRILLION (US $ 777.73 BILLION) IN INFRASTRUCTURE BY 2022
India has a requirement of investment worth Rs 50 trillion (US$ 777.73 billion) in infrastructure by 2022 to have sustainable development in the country.
In the Union Budget 2019-20, the Government of India has given a massive push to the infrastructure sector by allocating Rs 4.56 lakh crore (US$ 63.20 billion) for the sector.
FDI received in Construction Development sector (townships, housing, built up infrastructure and construction development projects) from April 2000 to December 2018 stood at US$ 24.91 billion and in Construction (Infrastructure) activities stood at US$ 14.01 billion.
With initiatives like ‘Housing for All’ and ‘Smart Cities Mission’ the Government of India is working on reducing bottlenecks and impeding growth in the infrastructure sector.Rs 2.05 lakh crore (US$ 31.81 billion) will be invested in the smart cities mission. All 100 cities have been selected as of June 2018.
In Union Budget 2019-20, Rs 83,015.97 crore (US$ 11.51 billion) was allocated for National Highways Authority of India (NHAI) while Rs 19,000 crore (US$ 2.63 billion) was allocated to Pradhan Mantri Gram Sadak Yojana (PMGSY) for development of roads in rural and backward areas of the country.
The Indian Railways received allocation under Union Budget 2019- 20 at Rs 66.77 billion (US$ 9.25 billion). Out of this allocation, Rs 64.587 billion (US$ 8.95 billion) is capital expenditure.
Indian Railways will require investment of Rs 35.3 trillion (US$ 545.26 billion) by 2032 for capacity addition and modernisation. The capital expenditure in the sector is expected to be increased 92 per cent annually.
For 2019-20, the total capital expenditure of Railways is expected to be Rs 1.59 trillion (US$ 22.04 billion).
In 2019-20 Union Budget, government announced Rs 83.02 billion (US$ 11.51 billion)for road transport and highway.
The Government of India will construct 65,000 km of highways by 2022.
Government announced plans to invest US$ 6.98 billion in Northeast States.
The Airports Authority of India aims to bring around 250 airports under operation across the country by 2020.
The AAI plans to spend over Rs 21,000 crore (US$ 3.2 billion) between 2018-22 to build new terminal and expand capacity of existing ones.
Metro rail projects worth over Rs 500 billion ($7.7 billion) are underway in India and this pile will probably grow.
Highlights Of the Events :-
Largest Construction Equipment Exhibition in South Asia