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.
この記事は Businessworld の April 15, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Businessworld の April 15, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders
