+
Mining Gear Sector May Touch Rs 3.75 Trillion by 2030
Equipment

Mining Gear Sector May Touch Rs 3.75 Trillion by 2030

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.


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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code