Gurugram, Dec 14 (IANS) Builders Association of India President Avinash M. Patil on Wednesday said the Indian construction equipment revenues are expected to cross the $23 billion — approximately Rs 1.5 lakh crore — mark.
He said the increase in revenue would be fuelled by demand for construction equipment with the infrastructure investment set to go up.
Patil was speaking at the four-day BAUMA CONEXPO INDIA — an international trade fair for construction machinery, building material machines, mining machines and construction vehicle industry– a organised here from December 12-15.
Besides Indian companies, around three dozen countries including China, Italy, Spain, the US and Germany are participating in the trade fair.
“The trade fair is also supported by associations like the Builders’ Association of India (BAI), the Indian Construction Equipment Manufacturers’ Association (ICEMA), the Construction Industry Development Council (CIDC) and Invest India,” he said.