The center plans to invest more than Rs 100 lakh crore in infrastructure development
In his inaugural address at the 11th edition of CII EXCON, South Asia’s largest construction equipment trade fair organized by the Confederation of Indian Industry (CII) today, Karnataka Chief Minister Basavaraj Bomai said, “The infrastructure sector is receiving a strong boost. Overall development and GDP driven. The new policies announced by the Government of India will ensure a time frame for building world-class infrastructure in the country, creating a new identity for India globally. “
Basavaraj said the construction sector would play a major role in the Prime Minister’s vision to turn India into a $ 5 trillion economy. To achieve this goal, the government is launching major infrastructure and industrial projects worth Rs 100 lakh crore. “While our main focus should be on the rapid growth of the country through the advancement of our technology, the inclusion of the people at the bottom of the pyramid is also important because they are the drivers of the economy. We urge industries to work with them to make the CE (construction equipment) sector more viable. ”
The Chief Minister noted that Karnataka offers huge business opportunities for the construction industry as it is embarking on major infrastructure development projects in roads and flyovers, industrial infrastructure and power.
Participating as the guest of honor, General VK Singh, Minister of State for Road Transport and Highways, Government of India said, “India is an emerging hub for construction equipment, material outsourcing base and design base. Private players in the construction industry must focus on innovation, adoption of advanced technology and world-class practices, use of alternative fuels, and innovation in the use of waste materials as raw materials for their construction projects to reduce construction costs and pollution rates. Infrastructure must be sustainable and measures must be taken to increase quality at an affordable lifecycle cost to the industry. India is working hard on hydrogen energy technology and solar energy because we see them as the future of the country. The CE industry must be prepared for competitive market conditions and focus on Industry 4.0 to restructure itself. ”
CII EXCON Chairman Deepak Sethi said, “This is the 11th edition of EXCON and our theme for this year is Building India for a New World: Competition, Growth, Sustainability, Technology. Therefore, it is very important to develop and adopt technology so that we can expand our innovations and become a global export hub. Understand the significance of the economy and create a roadmap for alternative fuels. ”
The role of smart technology and innovation in India’s infrastructural development is essential in achieving the goal of making India a global hub for manufacturing equipment. As a result, rapid investment in infrastructure is needed for sustainable development in the country.
During the inaugural session, EXCON dignitaries presented the ‘Women Building India Awards’ in recognition of the inclusion of women in the infrastructure industry. The female champions of Cummins India, Volvo CE India, Schwing Stetter India and L&T Constructions & Mining Machinery have been recognized for their efforts.
Offering a vote of thanks, Dimitrov Krishnan, Co-Chairman, EXCON, said, “The Indian CE industry, the 3rd largest market in the world, has made significant progress over the years. We aim to become the 2nd largest CE market in the world. The EXCON exhibition will reflect the theme elements and determine the pace of self-reliant India in developing the country’s infrastructure. “
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