Industry seeks cut

The Indian construction equipment industry has sought cut in excise duty from the Government due to a severe drop in demand amid slow execution of infrastructure projects. Indian Construction Equipment Manufacturers Association (ICEMA) has sought relief measures from the Government as the industry has already witnessed a negative growth of over 30 per cent during the past two years. Land acquisition issues, absence of environmental clearances and severe deterioration in the financial health of companies have hit the sector's growth and many firms have already approached the corporate debt restructuring cell. Contact: Indian Construction Equipment Manufacturers Association. Tel: 011-2468 2229. Fax: 011-2468 2226. Website: www.i-cema.in