Over the next five years Central government announced an outlay of Rs 6.92 lakh crore towards construction of 83,677 km of roads, which would likely result in higher purchase and lease of Construction Equipment In India. Growth in infra is expected to be back, especially with the government’s focus on the sector. And so the construction equipment India will be more demand now. Construction industry of India is an important indicator of the development as it creates investment opportunities across various related sectors. Construction Equipment in India is the growth indicator progress.
Tax on construction equipment in India, stands at 28 per cent which is on the higher side so it is observed that International construction equipment will also be in demand. It is noticed that from the construction equipment industry view point, the only sector that grew last year was roads and highways. Railways is also having some progress where in the equipment’s can be used. There are many variations of a construction equipment, as per the project type and the volume of the project the construction equipment is used which helps the project to be a success in all ways. Right kind of usage of the equipment is very important as it will help the project to be completed in a systematic way and helping the overall development to happen in a progressive manner.
The Indian construction industry comprises almost of 200 firms in the corporate sector. The construction industry is fragmented, with a handful of major companies involved in the construction activities across all segments. It is also observed that private sector is also involved in the infrastructure development through public-private partnerships and mechanisms like build-operate-transfer (BOT), private sector investment has not reached the expected levels. Depending on the construction application, the equipment will be used in different ways and will help you to achieve your milestone in the given time frame