TIMELY EFFORTS

Deepak Miglani, General Manager - B2B Industrial Lubricants, ExxonMobil Lubricants Pvt. Ltd. on adapting to market dynamics

Please share your views on the current landscape of the Indian construction industry: opportunities, key growth drivers.

In 2022, the India construction sector saw a growth of 11.5% (YoY) - India intends to spend USD 1.4 trillion on infrastructure projects from 2019-2023, through the National Infrastructure Pipeline (NIP) to ensure development within the country. Therefore, with demand likely to increase, the Indian construction sector is equipping itself to reap profits from the growing opportunities. The evolving construction industry in India brings forth significant focus on energy efficiency for economic development. In the coming years, especially, choosing superior lubrication solutions will aid the sector in reducing unnecessary breakdowns, cutting overhead costs and ushering in greater profitability. This year brings great promise for the construction and infrastructure sector with the government’s focus on policies such as open FDI norms, large budget allocation to the infrastructure sector, smart cities mission and more.