India will be a developed country by 2024 and its benefits will also trickle down to neighbouring countries such as Sri Lanka.
Minister for Road Transport and Highways, Government of India, Nitin Jairam Gadkari who launched the 12th Edition of EXCON in Bangalore on the theme ‘Building India’s Tomorrow’ said that already India moved up as the third largest construction equipment manufacturer in the world beating Japan and will soon overtake US to become number two after China.
He said that in the automobile manufacturing sector India is the world’s number two.
Indian Minister Nitin Jairam Gadkari with CCI officials at the opening
The Minister said that investing more in Research and Development adopting novel techniques, quality youth work force, large domestic market investor friendly policies, are the main reasons for India to leap forwards toward becoming a developed nation by 2028.
He also said the Indian army too is major buyers of construction equipment as they too are involved in the rapid development of the country.
The Construction Equipment industry made a remarkable resurgence in the fiscal year 2022-23, achieving an impressive 26% growth. This outstanding performance propelled total sales to surpass the one lakh milestone,” said Dimitrov Krishnan, Co-Chairman, (Confederation of Indian Industry) CII EXCON 2023.
Chairman, CII . Vijaykrishnan Venkatesan, Karnataka said, “Karnataka is emerging as a vibrant manufacturing hub in the country and hosting EXCOn in Bangalore helped the city to gain additional infrastructure including the largest conference centre where the event is now being hosted
Confederation of Indian Industry (CII) has been playing a pioneering role in facilitating accelerated development of Infrastructure in India. Towards this, one of the key initiatives of CII is Excon – Global Exhibition and Conferences on Construction Equipment & Technology. This event is South Asia’s Largest event for the sector.
The five day event spread over 32,00,000 square feet of display area attracted over 1,000 exhibitors including 100 from overseas from Austria, China, Czech Republic, France, Germany, Italy, Romania, Russia, South Korea, Spain, Sri Lanka, Turkey, United Arab Emirates, United Kingdom and the United States of America. The exhibition would attract over 80,000 business visitors from all over the world. – SS
