The rural economy has also been driving sales of construction equipment. A good monsoon, record agricultural production and huge procurement by the government agencies along with a focus on rural infrastructure are all attributable to increasing rural prosperity.
L&T has fully conceptualised, designed, developed and manufactured in-house wheel loaders with more than 90 per cent components sourced domestically. Vivek Hajela, General Manager and Head - Construction Equipment Business, Larsen & Toubro, shares more on the market scenario and outlook.
On this 74th Independence Day, economies world over seem to be in the throes of a crisis. Britain has announced that it has slipped into a deep recession. All global economies are set to contract into negative territories.