ECE industry can grow to $12-13 bn by 2015: Mckinsey study
Indian earthmoving and construction equipment sector (ECE) can grow to $12-13 billion by 2015 provided it gets support from the government and the industry.
By PTI |
BANGALORE: Indian earthmoving and construction equipment sector (ECE) can grow to $12-13 billion by 2015 provided it gets support from the government and the industry, consulting firm McKinsey said in a study.
According to the global consultancy firm, the current growth levels would create a market of eight billion dollars by 2015. A concerted push given by the industry and the government would promote exports and generate additional 4-5 billion dollars in revenue, it said.
The industry has recorded a year-on-year growth of 40 per cent in revenue since 2004 to reach 2.3 billion dollars.
Growth opportunities for the industry included investment of 750 billion dollars in infrastructure development, increased involvement of global equipment manufacturers in the country and rise in exports.
Low cost imports from countries such as China could pose a challenge, but at present it was low at five per cent of the total ECE consumption, it added.
According to the global consultancy firm, the current growth levels would create a market of eight billion dollars by 2015. A concerted push given by the industry and the government would promote exports and generate additional 4-5 billion dollars in revenue, it said.
The industry has recorded a year-on-year growth of 40 per cent in revenue since 2004 to reach 2.3 billion dollars.
Growth opportunities for the industry included investment of 750 billion dollars in infrastructure development, increased involvement of global equipment manufacturers in the country and rise in exports.
Low cost imports from countries such as China could pose a challenge, but at present it was low at five per cent of the total ECE consumption, it added.
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