CII EXCON 2022 opened with a new-found vigor in mid-May 2022. It fulfilled the aim to revive the CE industry from the post-pandemic slump in the last 3 years. Fittingly, the 5-day event ended with renewed energy and vibrancy. Sarada Vishnubhatla reports the highlights of the inaugural ceremony that was presided by the ministerial representatives from both central and state governments alongside those from the industry and brings exclusive spotlight updates on key brands from the show.
The 11th edition of South Asia’s largest construction equipment trade fair, EXCON, held from May 17 to 21, 2022 in Bengaluru succeeded in pumping new blood into the CE industry. The industry is recovering from the slump that it found itself in the last more than 2 years due to the COVID pandemic. The exhibition leading with the theme ‘Building India for a new world’, was inaugurated by Gen (Dr.) V K Singh (Retd.), Hon. Minister of State for Road Transport & Highways and Civil Aviation, Government of India, Basavaraj Bommai, Hon. Chief Minister, Government of Karnataka, along with Kamal Bali, Deputy Chairman, CII Southern Region, Deepak Shetty, Chairman, EXCON 2022 and Dimitrov Krishnan, Co-Chairman, EXCON 2022 & President, ICEMA besides other dignitaries. The expo is focused on sustainability, growth, competitiveness and technology.
EXCON 2022 witnessed participation from more than 1500 exhibitors, including 350 from around the world and recorded a footfall of more than 80,000 business visitors, despite the deluge created by the pre-monsoon showers in the region. EXCON also became the platform to present awards to successful women in the CE industry with ‘Women Building India – Equal Opportunity Awards 2021’ amidst great applause. The awards recognized corporates from the infrastructure sector who have broken social stereotypes by hiring and empowering women in this sector. The session also offered a stage to the 2nd edition of Infrastructure Requirements for Armed Forces which explored the emerging opportunities and smart technology in the defence sector.
Taking the opportunity, Gen (Dr.) V K Singh (Retd.), Hon. Minister of State for Road Transport & Highways and Civil Aviation, Government of India highlighted: “The crystal clear vision of the current central government of India is to ensure that our economy thrives with the help of better ports, better management at these ports which will be facilitated by improved infrastructure. Our Honourable Prime Minister has laid down plans for the 100 years of India to make us a vibrant economy in 2047. For this to materialize, infrastructure is a major contributor – be it the roads, ports or any other. The investment that is made into infrastructure development directly benefits a vast majority of our populace. The CE industry should work towards automation, advanced technology and also utilizing alternate fuels so that costs are reduced and pollution is kept at bay.”
He also alluded to the Rs. 100 lakh crores worth Pradhan Mantri Gati Shakti – National Master Plan for developing integrated infrastructure formulated by Prime Minister Narendra Modi. The National Infrastructure Pipeline was launched in August 2020 which includes more than 9000 infrastructure projects. This is a ‘first-of-its-kind, whole-of-government exercise to develop world class infrastructure in India by 2025.
He said: “This is aimed at ensuring road, rail, air and water ways connectivity so that the economy can thrive, especially when various modes of transportation are interconnected. There is a 35.4% increase in public capital investment that was announced in the budget this year which will ensure this. Now the onus lays on the construction equipment sector to use technology, to help make roads and other infrastructure faster, while ensuring high levels of sustainability.”
Gen. (Retd.) Singh also emphasized on reducing the cost of construction to be able to fulfill the government’s plans for developing rural infrastructure for which ‘policy changes have been brought in’. He stressed on the fact that India is an emerging hub for CE and component outsourcing.
In his address, the Honourable Chief Minister of Karnataka, Basavaraj Bommai congratulated the CE sector and the stakeholders: “Infrastructure industry has the power to bring big change in the society and in creating opportunities. There is a need for increased push on more R&D activities along with technological innovations, while establishing better connection with the communities at the bottom of the pyramid as they are the real movers of the economy.”
The CE business in India currently accounts for 7-8% of the global industry but with the intense drive that the central government is offering the industry, there is bound to be a significant increase in India’s contribution to the global and domestic economies. The Chief Minister assured that the state government is ready to walk with the sector and offer help at every step of the nation building exercise. He also underscored the significant investments that the Government of Karnataka is planning in an effort to transform the infrastructure sector while simultaneously skilling the manpower.
Reiterating the CE industry’s commitment in nation building, Deepak Shetty, Chairman, EXCON 2022 was confident when he said that: “The presence of important stakeholders such as OEMs and component manufacturers at the show promises that the dream of Indian CE industry becoming the export hub for the world is more than tangible. For this to become a reality sooner, India must depend less on imports to pave the way for infrastructure projects.”
If today Indian construction equipment industry is the 3rd largest market globally, EXCON brought forth the potential that remains to be explored while it showcased the opportunities that lay ahead. India’s construction equipment industry development is directly linked to the growth of our economy as it is driven by increased investments in infrastructure and related sectors.
The path ahead for the CE industry is paved with the high ambition of India becoming the 2nd largest market in the world by the year 2030.