ICRA expects India’s mining and construction equipment sector to boost by 70-80 per cent in next 5 years
India’s mining and construction equipment industry is poised for a substantial growth surge, with localisation expected to rise significantly in the next 5-7 years, potentially saving $3 billion in annual foreign exchange. Driven by infrastructure growth and aided by government incentives and geopolitical shifts, the industry aims to become a $25 billion market by 2030.