India’s mining and construction equipment (MCE) sector, currently valued at Rs 1.33 trillion ($16 billion), is projected to grow at a compound annual rate of 19 per cent, reaching Rs 3.75 trillion ($45 billion) by 2030, as per the Confederation of Indian Industry (CII) and Kearney report. 

The CII-Kearney Vision Report positions India as a future global hub in the MCE sector. With a global market of Rs 1,50,00,000 billion ($18 trillion), the MCE sector supports infrastructure, energy, and industrial growth worldwide, contributing 16 per cent to global gross domestic product. 

India’s own MCE industry contributes 22 per cent to GDP, supports over seventy million jobs, and has grown at 12 per cent annually over the past five years—faster than the United States, Germany, and Japan. It now ranks just behind China in scale and output. 

By FY30, the MCE sector is expected to add over Rs 8.3 trillion ($100 billion) to India’s economy and create twenty million jobs. To achieve this, the report recommends key measures including a nodal agency, targeted Production Linked Incentive schemes, tax reforms, technology adoption, and export facilitation through free trade agreements.