Latest news with #IndianConstructionEquipmentManufacturers'Association
Time of India
08-08-2025
- 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
08-08-2025
- Business
- Time of India
New Bill to boost construction equipment industry on the cards: Gadkari
New Delhi: The Union government is working on a new Bill to support India's construction equipment (CE) industry, Roads and Highway Minister Nitin Gadkari said on Thursday. The move aims to reduce the imports, particularly from China, and enhance the sector's competitiveness through targeted policy measures. 'We will frame rules and regulations for it. Our Bill will be released in the next session. Once it is approved, the standards will be set. You will not have to face the problems you are facing today. The standards will be set. Once the Bill is approved, all your worries will be solved,' the minister said. He was speaking at the annual session of the Indian Construction Equipment Manufacturers' Association (ICEMA), the apex industry body representing over 150 members, including 95 per cent of the country's OEMs and component manufacturers. India's construction equipment industry , valued at approximately $9 billion, has been facing the heat in recent years from Chinese imports. According to experts, the share of Chinese imports has risen to approximately 25 per cent in segments like excavators. Last year, major domestic players like Tata Hitachi also flagged concerns over the surge in cheaper imports from China. Speaking on efforts to decarbonise the sector, Gadkari said the government is considering a 10 per cent machinery advance for OEMs shifting to flex engines and clean fuels, along with zero per cent interest loans for equipment buyers using alternative fuel technologies. Industry growth Gadkari acknowledged that last year's slowdown in the industry was due to the cancellation of the Bharatmala project , but added that it should not affect progress this year. 'That problem has been solved. We have awarded ₹2 lakh crore so far. Now we will award another ₹5 lakh crore taking the total to ₹7 lakh crore by year-end.' 'We aim to award road projects worth ₹10 lakh crore every year,' he added. Retail sales of construction equipment (CE) grew marginally to 24,568 units during April-July 2025, up from 24,240 units in the same period last year, according to data from the Federation of Automobile Dealers Associations (FADA). The minister 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 specialised machinery. I urge your industry to step up in these areas.' Giving reference to a recent study, he noted that the country's logistics costs have declined from 16 per cent due to enhancements in road infrastructure. He added that the government is working to reduce this further to 9 per cent by December. Skill training Gadkari also advised industry players to provide training and develop skillsets among equipment operators. 'It is very important to give skill training to these people. You should have a three-month course at the regional level on how to operate it, especially in areas where you have strong sales. Come to me, I will give you approval from the Indian government,' he said. Unlike road vehicles, the operation of heavy construction machines currently does not require any formal licensing or regulatory mandate.
Time of India
08-08-2025
- 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.
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Business Standard
07-08-2025
- Business
- Business Standard
Short-term pain has to be borne for long-term gains: JCB India MD
Short-term pain has to be endured to secure long-term advantages, and the construction equipment industry is prepared for it, said Deepak Shetty, chief executive officer and managing director of JCB India, on Thursday, referring to the 50 per cent tariff imposed by US President Donald Trump. Construction equipment manufacturer JCB exported 14,000 units in 2024, of which 10,000 went to the US. Shetty is set to take charge as president of the Indian Construction Equipment Manufacturers' Association (iCEMA) on Friday. The Indian construction equipment industry is valued at around $6 billion. When asked if he was concerned about the US government's move, Shetty said, 'Yes.' 'The past four years have been great for JCB's exports across the world. Before that, JCB used to export just about 2,000 machines. If we look at the past five years, our exports have increased multiple times. We export to 135 countries,' he told Business Standard. On tariffs and trade issues with the US, he said: 'We are very open as an industry. We wanted to free our government's hands, so we told the commerce ministry that there should be zero duties on construction equipment imported on both sides, so that there is a level playing field. We are very confident about the quality of our machines.' While acknowledging the near-term impact of the US government's move, Shetty backed the Indian government's broader trade approach. 'I only wish the government well, because they are protecting the interests of the nation. In the short term, a few of us will have to go through pain, but it's worth it if you look at the long-term vision for the country. I would only say — more power to the government,' he observed. On the potential impact of tariffs, Shetty remained optimistic. 'The customers there have enjoyed using our machines. They have seen the productivity and the quality of our products. So, I am sure that once things settle down, our exports will continue in large numbers. I am very confident,' he said. He also pointed to other potential markets — Eastern Africa, Nepal, Sri Lanka, Malaysia, Thailand and Indonesia — which the company is eyeing for export diversification. Looking ahead, he said, 'We expect exports in 2025 to remain flat. We have a positive in the free trade agreement that has been signed with the UK. On the other side, we have a tariff situation with the US. I think it will get settled in one or two months.' On the domestic front, JCB sold 35,000 units in 2022, 44,500 in 2023, and 50,250 in 2024. But Shetty expects a pause in growth this year. 'Domestic sales are expected to remain flat in 2025 due to the implementation of new Bharat Stage (BS)-V emission norms from January 1, which led to a price increase, funding constraints at the state government level, and ongoing challenges faced by some non-banking financial companies,' he said. 'Some of our competitors stocked products that were produced before December 31. However, we were confident about our new products (made keeping in mind the BS-V norms), as their fuel efficiency is better by 14.5 per cent and they have lower maintenance costs. So, they were launched in the market from the first week of January itself,' he said.
Economic Times
07-08-2025
- 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.
