Union Minister for Heavy Industries and Steel H. D. Kumaraswamy highlighted the role of a robust financing architecture in accelerating India’s infrastructure and manufacturing ambitions at the sixth Construction Equipment Finance Conclave. He said the conclave theme of building a resilient infrastructure and construction equipment financing ecosystem aligned with national growth priorities and global aspirations. He noted that India was the world’s fourth-largest economy and expected to become the third-largest in coming years driven by infrastructure expansion, manufacturing depth and capital investment.

Kumaraswamy underlined the Centre’s infrastructure thrust under the leadership of Prime Minister Narendra Modi and said the government was building industrial capacity alongside physical assets to realise Viksit Bharat 2047. He pointed to the Union Budget 2026–27 allocation of Rs 12.2 trillion (tn) as a structural push across highways, railways, logistics corridors, ports, renewable energy infrastructure and urban expansion. The Minister described the proposed Scheme for Enhancement of Construction and Infrastructure Equipment being steered by his ministry as designed to strengthen domestic manufacturing of high-value technologically advanced equipment.

He cited industry estimates that the Indian construction equipment market was valued at around $9.5 billion (bn) and had the potential to more than double by 2030, noting that the sector recorded sales of 140,000 units in FY25 and aimed to evolve into a $25 bn market by decade end. The Minister emphasised the transformative impact of automation, artificial intelligence enabled fleet management, predictive maintenance and electric and hybrid equipment on operational efficiency. He added that government initiatives such as PM E-DRIVE were accelerating the transition towards cleaner and more sustainable industrial growth.

Kumaraswamy argued that a resilient financing ecosystem would have multiplier effects across the economy, empowering manufacturers, contractors, micro, small and medium enterprises, logistics operators and infrastructure developers. He called for collective action by stakeholders to position India as a global hub for construction equipment manufacturing and financing aligned with the national development vision. The conclave was presented as an opportunity to align policy interventions, incentives and finance to scale domestic capability and competitiveness.