The recent turn around in the ECE industry is helping India’s growth story, but sustaining the momentum is key.
IT IS INDEED GREAT NEWS for any economy, if there is a sustained spurt in demand for excavators, backhoe and wheeled loaders, dumpers/tippers, and pick-and-carry cranes among others. If you are wondering what these are, well, these and other similar specialised automotive equipment constitute what is known as ECE or earth moving and construction equipment industry. A growing demand for such equipment means only one thing — that the infrastructure sector is on an overdrive; that construction activities are in full swing; and that new roads, ports, canals, flyovers, railway tracks, buildings and related infrastructure projects are underway. For the last 18 months or so, it’s been true for India.
The Indian ECE industry is witnessing revival and an upswing after a gap of four years. It is expected to virtually double to $5 billion or more by FY19-20 from its current size of around $2.8 billion. “The ECE industry showed a significant growth in 2016 after a downcycle that lasted for four years. It grew by 43 per cent in 2016 compared to 2015. But even after registering a strong growth, the industry is yet to reach the peak it had attained in 2011 in terms of volumes,” says Vipin Sondhi, managing director and chief executive officer of JCB India, one of the leading manufacturers of ECE equipment. “You can say one out of two ECE sold in India is a JCB machine,” adds Sondhi.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
