Latest news with #ICEMA
Time of India
5 days ago
- Business
- Time of India
Infra rollout gains pace: Govt eyes Rs 10 lakh crore in annual highway awards; Gadkari sets FY26 target at Rs 7 lakh crore
The government plans to award road projects worth Rs 10 lakh crore every year, with a target of Rs 7 lakh crore in project awards by the end of FY26, Union road transport and highways minister Nitin Gadkari said on Thursday, signalling renewed momentum after delays linked to the Bharatmala programme. Speaking at the annual session of the Indian Construction Equipment Manufacturers' Association (ICEMA), Gadkari said the sector had seen some slowdown over the past year due to the cancellation of Bharatmala, according to an ET report. 'But in the current year, we have already awarded projects worth Rs 2 lakh crore and the plan is to award another Rs 5 lakh crore by year-end, taking the total to Rs 7 lakh crore,' he said. He added that the target going forward is Rs 10 lakh crore annually, noting that the award process is 'transparent, time-bound and corruption-free' with no shortage of funds. Gadkari reiterated his goal of achieving 100 km of road construction per day, compared to the peak of 37 km per day recorded in 2020–21. Urging the construction equipment industry to adopt alternate and sustainable fuels, Gadkari said the ministry is exploring interest-free loans for manufacturers developing such equipment. 'Besides, a relief on one-time tax on registration of construction equipment running on alternate fuels is also under consideration,' he added. 'This will substitute huge fuel imports worth Rs 22 lakh crore annually, reduce pollution, and boost indigenous innovation,' he said, calling it a win-win for the industry, government and economy. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
5 days ago
- Business
- Time of India
Govt to award ₹7 lakh crore in road projects this year, targets ₹10 lakh crore annually from FY27: Nitin Gadkari
Advt The government will award ₹7 lakh crore worth of road projects in 2025-26 and raise the target to ₹10 lakh crore per year starting next fiscal year, road transport and highways minister Nitin Gadkari said."The sector witnessed some slowdown in the last one year due to the cancellation of the Bharatmala project ," Gadkari said at the annual session of Indian Construction Equipment Manufacturers' Association (ICEMA) on Thursday."But in the current year we have already awarded projects worth ₹2 lakh crore and the plan is to award another ₹5 lakh crore worth of road projects by the end of this year, taking the total to ₹7 lakh crore," he forward, the target is to award projects worth ₹10 lakh crore every year, he said, adding that the process is transparent, time bound and corruption free, and there is no shortage of reiterated his desire to achieve the daily construction rate of 100 km per day as against the highest of 37 km per day in the construction equipment industry , Gadkari said his ministry is deliberating over incentives to the industry if they opt for alternate fuels and flex engines as it will be a win-win for all stakeholders. "We are considering an interest-free loan to construction equipment makers who develop equipments running on alternate fuels," he said."Besides, a relief on one-time tax on constitution equipment registration running on alternate fuels is also under consideration," he said, prodding the industry to switch to alternate and sustainable fuel options."This will substitute for huge fuel imports amounting to ₹22 lakh crore per annum, will be cost effective, pollution free and indigenously developed," he said.
Time of India
6 days ago
- Business
- Time of India
Government to introduce new bill to enhance CE industry's competitiveness: Road transport minister
NEW DELHI: Green fuels and advanced technologies such as electric and hydrogen-powered vehicles are not just environmentally responsible but also financially advantageous, said Nitin Gadkari , Minister for Road Transport and Highways, underscoring the critical role of sustainability in the construction equipment (CE) industry's growth. Speaking at The Indian Construction Equipment Manufacturers' Association (ICEMA) Annual Session 2025 in New Delhi, Gadkari forecasted a robust global demand if the CE sector embraces sustainability, quality, and innovation. The construction equipment industry witnessed 3% growth in FY25, with equipment sales reaching 1,40,191 units while exports have grown by 10%. 'If the CE industry truly commits to sustainable practices and innovation, global demand will rise significantly,' he added. Gadkari emphasized on the critical need for technological advancement and sustainability in construction equipment. He reiterated the government's zero-tolerance stance on quality lapses, 'We are very strict about quality, whether it's roads or equipment. Anyone compromising quality will be held accountable.' He also urged the CE industry to invest in high-capacity machinery for tunneling and pre-cast construction, 'We are building tunnels worth ₹3 lakh crore, but machinery availability remains a bottleneck. European nations have advanced tunnel boring equipment, we need to adapt such machines for Indian conditions. Pre-cast is now mandatory in many projects, requiring specialized machinery. I urge your industry to step up in these areas.' The minister assured industry members that policy support is forthcoming, 'We are bringing a new bill in the next Parliament session to address the challenges the CE industry is facing in competing with global players. Your concerns have been heard, and they will be addressed.' V. Vivekanand, president, ICEMA and managing director of Caterpillar India , said, 'To build a safer, more efficient future, we must make skilling mandatory for all operators. It's not just about complianceiit's about improving quality, minimizing risk, and unlocking long-term productivity."
Economic Times
6 days ago
- Business
- Economic Times
Road ministry aims to award Rs 10 lakh crore of projects every year: Nitin Gadkari
The government aims to award road projects worth Rs 10 lakh crore every year going forward with a target of Rs 7 lakh crore of projects awarded by the end of 2025-26, road transport and highways minister Nitin Gadkari said. 'The sector witnessed some slowdown in the last one year due to the cancellation of the Bharatmala project,' Gadkari said while speaking at the annual session of the Indian Construction Equipment Manufacturers' Association (ICEMA) on Thursday. 'But in the current year we have already awarded projects worth Rs 2 lakh crore and the plan is to award another Rs 5 lakh crore worth of road projects by the end of this year, taking the total to Rs 7 lakh crore,' he said. Going forward, the target is to award projects worth Rs 10 lakh crore every year, he said, adding that the process is transparent, time bound and corruption free and there is no shortage of funds. Gadkari reiterated his desire to achieve the daily construction rate of 100 km per day as against the highest of 37 km per day in 2020-21. Addressing the construction equipment industry, Gadkari said his ministry is deliberating over incentives to the industry if they opt for alternate fuels and flex engines as it will be a win-win for all stakeholders. 'We are considering an interest- free loan to construction equipment makers who develop equipments running on alternate fuels,' he said.' Besides, a relief on one time tax on constitution equipment registration running on alternate fuels is also under consideration,' he said, prodding the industry to switch to alternate and sustainable fuel options. 'This will substitute for huge fuel imports amounting to Rs 22 lakh crore per annum, will be cost effective, pollution free and indigenously developed,' he said, adding it will be a win-win situation for industry, government and the country.
Time of India
6 days ago
- Business
- Time of India
Road ministry aims to award Rs 10 lakh crore of projects every year: Nitin Gadkari
The government aims to award road projects worth Rs 10 lakh crore every year going forward with a target of Rs 7 lakh crore of projects awarded by the end of 2025-26, road transport and highways minister Nitin Gadkari said. 'The sector witnessed some slowdown in the last one year due to the cancellation of the Bharatmala project,' Gadkari said while speaking at the annual session of the Indian Construction Equipment Manufacturers ' Association (ICEMA) on Thursday. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program 'But in the current year we have already awarded projects worth Rs 2 lakh crore and the plan is to award another Rs 5 lakh crore worth of road projects by the end of this year, taking the total to Rs 7 lakh crore,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Pieces of Clothing you Can be Too Old for Learn More Undo Going forward, the target is to award projects worth Rs 10 lakh crore every year, he said, adding that the process is transparent, time bound and corruption free and there is no shortage of funds. Gadkari reiterated his desire to achieve the daily construction rate of 100 km per day as against the highest of 37 km per day in 2020-21. Live Events Addressing the construction equipment industry , Gadkari said his ministry is deliberating over incentives to the industry if they opt for alternate fuels and flex engines as it will be a win-win for all stakeholders. 'We are considering an interest- free loan to construction equipment makers who develop equipments running on alternate fuels,' he said. ' Besides, a relief on one time tax on constitution equipment registration running on alternate fuels is also under consideration,' he said, prodding the industry to switch to alternate and sustainable fuel options. 'This will substitute for huge fuel imports amounting to Rs 22 lakh crore per annum, will be cost effective, pollution free and indigenously developed,' he said, adding it will be a win-win situation for industry, government and the country.
