Latest news with #Vivekanand
Time of India
29-05-2025
- Business
- Time of India
Indian construction equipment industry achieves marginal 3% growth in FY25: Report
NEW DELHI: The Indian construction equipment (CE) industry has achieved a marginal three per cent year-on-year growth in FY25, with total equipment sales reaching 1,40,191 units compared to 1,35,650 units in FY24, according to a recent report by the Indian Construction Equipment Manufacturers' Association (ICEMA). The CE industry had seen a growth of 26 per cent year-on-year in FY24. During the current fiscal, while the domestic market growth remained subdued at 2.7%, the industry's overall performance was better due to a 10% surge observed in the exports. "2024 being an election year was one of the major reasons behind the overall drop in growth. This led to pause and delay in approvals of tenders and new investment being implemented on ground. Maharashtra election also impacted the demand for CE industry," said V. Vivekanand, president, ICEMA and managing director, Caterpillar India . Another reason is the construction equipment vehicle (CEV) stage V emission norms, which became effective on January 1, 2025. The norms are mandated by the Ministry of Road Transport and Highways (India) and apply to all wheeled construction equipment machines with diesel engines, such as backhoe loaders, telehandlers, loaders, and compactors. "Adapting to these norms also led to a slowdown in Q4 FY25," said Vivekanand. Tightning of financing environment and difficulties in sourcing of components from countries like China and South Korea have also impacted the overall industry in FY25. Deepak Shetty, president designate, ICEMA and CEO & managing director, JCB India said, "The growth could certainly have been higher as was anticipated earlier during the year, but as an industry, we continue to be hopeful of a strong future in the longer term. Elections, rising input costs and emission standards have affected the growth momentum adversely this year." Vivekanand however argues that the industry has been on a sustained double digit growth for a long period of time, and it's not fair to expect the same momentum to continue forever, while we aspire that same to continue all the time. So if you are to really look at it, we are not really looking at a dip and there is always a high baseline effect. However on the bright side, India has become the third largest CE industry in the world. The exports which have been marginal in the past are now seeing growth ICEMA claiming that most of the exports are now happening in the developed countries. In the next ten years, ICEMA however expects 3x growth in the domestic industry moving from $10 billion in 2025 to $30-35 billion by 2035, while the exports are expected to grow from the current $1 billion to $5-6 billion during the same period. It was $3billion industry in 2015. Segment-wise performance: Earthmoving Equipment segment continued to dominate with 71% market share, recording 99,159 units sold (6% growth). Backhoe Loaders led the segment with 53,133 units (54% share), followed by Crawler Excavators at 35,816 units (36% share). Material Handling Equipment segment saw a de-growth of nine per cent in FY25 with 17,050 units, while Concrete Equipment contributed 14,473 units with a 3% growth. Material Processing Equipment recorded 2,507 units and witnessed a de-growth of four per cent. CE industry's transition towards alternate fuels is still at a nascent stage and ICEMA believes the push can come from either the regulatory front or if the machines become cost-efficient. The industry is however trying to innovate and makes machines more fuel efficient. Demand from government ICEMA wants state governments to invest more in infrastructure development especially in rural areas. They are also demanding a PLI scheme for the construction equipment sector. "We do have a significant amount of opportunity, one, to build that capacity and capability for catering to the domestic need, and also actually position ourselves to a global export hub. And so we need to attract lot of investments on the component sector and also the equipment capacity," said Vivekanand.
Time of India
29-05-2025
- Business
- Time of India
Polls, project delays hit construction equipment market
New Delhi: Sales of heavy construction equipment , a key barometer of growth of infrastructure projects, such as roads and highways, airports, ports, industrial parks and mining, grew at its slowest in the last financial year. Restrictions on the announcement of new projects due to election rules as well as a slowdown in ongoing central and state projects, led to a contraction in demand. Against healthy double-digit growths recorded previously, the industry saw a 3per cent rise in FY25, with purchases of heavy equipment slowing down uncharacteristically. The ₹86,000 crore construction equipment industry, a key contributor to almost all the large infrastructure projects across the country, grew by 24per cent in FY24 and 21per cent in the year before that, according to data sourced from the Indian Construction Equipment Manufacturers Association ( ICEMA ). Companies, such as Caterpillar , JCB , Tata Hitachi Construction Machinery, Cummins, and Volvo CE are major providers of machinery. ICEMA president V Vivekanand, who is also MD of the Indian subsidiary of Caterpillar, said restrictions on new project announcements due to the model code of conduct before elections saw the central govt, as well as some states (which also went to polls), delay new project announcements. . Vivekanand told TOI that even the infrastructure activities slowed down during the year. 'The pace of execution is a cause of concern. The pace of construction of roads has slowed down, not just the national highways but even the rural roads. Sometimes the projects were not delivered on time, and in other cases, the projects were not awarded on time and thus got delayed. Even in mining, demand was muted for the past 15 months.' Deepak Shetty, CEO & MD of Indian operations of British manufacturer JCB, said payments to contractors were believed to have been delayed in many states, which led to a slowdown in purchases of new equipment. 'Work on many state highways has also slowed down. In some cases, there is a lack of availability of funds for infrastructure projects.' Sandeep Singh, MD of Tata Hitachi, said 'resolution of challenges in execution' of projects is key to kickstart demand. 'Govt support, in the form of incentives for both manufacturers and end-users, could accelerate this transition. Inclusion of construction equipment in the PM e-drive scheme and reduction of GST on electric machines are potential enablers,' said Dimitrov Krishnan, MD of Volvo CE India. Jaideep Shekhar, the India MD of Terex, which is an American manufacturer of materials processing machinery, waste, and recycling equipment, said the industry remains optimistic about registering better growth going forward. 'The outlook remains positive, buoyed by the govt's emphasis on infrastructure development.'
Time of India
29-05-2025
- Business
- Time of India
Polls, project delays hit construction equipment market
File photo NEW DELHI: Sales of heavy construction equipment, a key barometer of growth of infrastructure projects, such as roads and highways, airports, ports, industrial parks and mining, grew at its slowest in the last financial year. Restrictions on the announcement of new projects due to election rules as well as a slowdown in ongoing central and state projects, led to a contraction in demand. Against healthy double-digit growths recorded previously, the industry saw a 3% rise in FY25, with purchases of heavy equipment slowing down uncharacteristically. The Rs 86,000 crore construction equipment industry, a key contributor to almost all the large infrastructure projects across the country, grew by 24% in FY24 and 21% in the year before that, according to data sourced from the Indian Construction Equipment Manufacturers Association (ICEMA). Companies, such as Caterpillar, JCB, Tata Hitachi Construction Machinery, Cummins, and Volvo CE are major providers of machinery. ICEMA president V Vivekanand, who is also MD of the Indian subsidiary of Caterpillar, said restrictions on new project announcements due to the model code of conduct before elections saw the central govt, as well as some states (which also went to polls), delay new project announcements. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo . Vivekanand told TOI that even the infrastructure activities slowed down during the year. "The pace of execution is a cause of concern. The pace of construction of roads has slowed down, not just the national highways but even the rural roads. Sometimes the projects were not delivered on time, and in other cases, the projects were not awarded on time and thus got delayed. Even in mining, demand was muted for the past 15 months. " Deepak Shetty, CEO & MD of Indian operations of British manufacturer JCB, said payments to contractors were believed to have been delayed in many states, which led to a slowdown in purchases of new equipment. "Work on many state highways has also slowed down. In some cases, there is a lack of availability of funds for infrastructure projects." Sandeep Singh, MD of Tata Hitachi, said "resolution of challenges in execution" of projects is key to kickstart demand. "Govt support, in the form of incentives for both manufacturers and end-users, could accelerate this transition. Inclusion of construction equipment in the PM e-drive scheme and reduction of GST on electric machines are potential enablers," said Dimitrov Krishnan, MD of Volvo CE India. Jaideep Shekhar, the India MD of Terex, which is an American manufacturer of materials processing machinery, waste, and recycling equipment, said the industry remains optimistic about registering better growth going forward. "The outlook remains positive, buoyed by the govt's emphasis on infrastructure development." Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
14-05-2025
- Politics
- The Print
Major success for anti-Naxal operations; 31 Maoists killed in 21-day action at Karregutta hills: CRPF DG
'The eliminated Naxals identified so far carried a reward of Rs 1.72 crore on their heads. The forces have also seized a massive haul of weapons and destroyed four technical units of Naxals that used to manufacture weapons and IEDs,' Vivekanand, Additional DG (Anti-Naxal operations) of Chhattisgarh Police, said. Addressing a press conference, CRPF Director General GP Singh and Chhattisgarh Director General of Police (DGP) Arun Dev Gautam said during the 21-day operation that started on April 21, the forces have recovered bodies of 31 Maoists, of which 28 have been identified. Bijapur (Chhattisgarh), May 14 (PTI) Central and state security forces have eliminated at least 31 Naxals in a 21-day-long comprehensive operation carried out in dense forests around Karregutta hills on the Chhattisgarh-Telangana border, security officials said Wednesday, asserting it is the 'beginning of the end' of the Maoist menace. The officials said that after analysing facts and information during the operation, it can be safely believed that many senior Maoist leaders have either been killed or seriously injured during the encounters. 'Whatever we had set out to do, we have achieved more than that. We are confident and happy that this is the beginning of the end and we will achieve the target of completely eliminating Naxal violence from the country by March 31, 2026,' Singh said in response to a question by PTI. The security forces have not been able to recover all the bodies or arrest the injured because of extremely difficult terrain, the officials said. The forces have recovered 35 weapons and a huge quantity of ammunition including automatic, semi-automatic and country-made weapons as well, they said. During the operation, 450 IEDs and a large number of detonators, explosive devices, besides 12,000 kilograms of other material, including medical supplies, electric equipment, Naxal literature, etc, have been seized, they said. The forces have destroyed four weapons-producing factories of Naxals where generators, drills, motors, and cutters were found. Union Home Minister Amit Shah on Wednesday termed the operation as a historic breakthrough by security forces in the resolve to make the country Naxal free . Shah also said that under the leadership of Prime Minister Narendra Modi, the government is determined to root out Naxalism. 'I once again assure the countrymen that India is sure to be Naxal-free by March 31, 2026,' he wrote on 'X' in Hindi. The police have registered 17 FIRs related to the operation in which the help of the National Investigation Agency is also being sought, officials said. CRPF DG Singh said security forces are undertaking 'relentless and ruthless' operations to ensure that Naxalism is eliminated by March 31, 2026. Singh said the anti-Naxal operation, which started in 2014, has been intensified and made more focused since 2019, with central paramilitary forces working 'shoulder to shoulder' with state police with a commitment to stamp out Naxalism. Highlighting the effects of the operations on the ground, he said that in 2014, the number of the most Naxal-affected districts was 35, which has reduced to six in 2025 so far, while the number of Naxal-affected districts has come down from 126 to 18 during the period. 'The number of violent incidents in 2014 was 1,080, which has come down to 374 in 2024. The number of security personnel killed in Naxal violence in 2014 was 287, which has dipped to 19 in 2024. The number of Naxals eliminated during the period has reached 2089,' he said. As many as 928 Naxals have surrendered before security forces in 2024, while another 718 Maoists have surrendered so far this year, he said. Security forces have been trying to drive out Naxals from their hideouts and 'fill the vacuum'. In such areas, 320 new security camps have been established so far, besides 68 night landing helipads. 'We are committed to eliminating Naxalism by March 31, 2026, through relentless and ruthless operations,' he said. PTI NES ABS ACB SKL RT RT This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Hindu
10-05-2025
- Politics
- The Hindu
BRS demands putting-off Miss World pageant in war-like scenario in border areas
HYDERABAD The Bharat Rashtra Samithi (BRS) has demanded that the State government cancel or postpone the Miss World Pageant being held in the city immediately, when people are worried about the possible increase in the prices of essential commodities following the war-like situation with neighbouring Pakistan and closures of airports and ports. Addressing a press conference here on Saturday, BRS MLA and party Whip in the Assembly K.P. Vivekanand felt that it was the responsibility of Chief Minister A. Revanth Reddy to allay any such apprehensions and fears among people instead of being busy with organising the beauty contest. He also faulted the statement of the Chief Secretary that holding the beauty pageant would be crucial for the State's economy. Students from the State studying in the national educational institutions in Punjab and Jammu & Kashmir were willing to return home in the wake of escalation of security threat following the attempts of shelling, drone and missile attacks by Pakistan and it was for the Chief Minister to make arrangements for their safe return to the State. Stating that BRS was not against the idea of the beauty pageants but they should be conducted in a cheerful atmosphere and not the war-like situation which the country was in right now following the terror attack on tourists in J&K and continuous artillery and other attacks by Pakistan in the border areas starting from J&K to Gujarat. Only emergency services and not beauty contests must go on in war-like situations, Mr. Vivekanand said. Expressing solidarity with the armed forces for putting up a heroic fight to protect the country, he also paid tributes to Murali Naik who was martyred in the Pakistan shelling along the border. Meanwhile, Mr. Vivekanand along with former ministers T. Harish Rao and C. Malla Reddy participated in a rally organised in the Malla Reddy Health City here expressing solidarity with the armed forces.
