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Key Points

According to a new CII-Kearney report, India is poised to unlock a $45 billion opportunity in the mining and construction equipment sector by 2030. The report highlights India's potential to become a global leader, with current market valuations at $16 billion and a projected 19% CAGR. It emphasizes the sector's critical role in infrastructure and industrial growth, contributing significantly to GDP and job creation. Key recommendations include policy shifts, export enhancements, and tech innovation to capitalize on Vision 2030.

Key Points: India Eyes $45B Mining-Construction Equipment Boom by 2030

  • India targets $45B growth in mining equipment by 2030
  • CII-Kearney report outlines Vision 2030
  • Sector already valued at $16 billion, growing at 19% CAGR
  • Initiatives include MCE exports, R&D consortia, and clean-tech support
2 min read

India has $45 billion opportunity in mining-construction equipment sector by 2030: CII-Kearney report

CII-Kearney report envisions India as a global leader in mining-construction equipment by 2030, unlocking $45B opportunities.

"India is now the fastest-growing MCE market among the top six global economies, surpassing even the US, Germany, and Japan. - CII-Kearney Report"

New Delhi, May 26

India is poised to unlock a USD 45 billion opportunity in mining and construction equipment sector by 2030, according to a joint report by CII-Kearney.

Confederation of Indian Industry (CII), in collaboration with Kearney, a global management consulting firm, has come out with a 'Vision Report' for making India a global manufacturing hub in the mining and construction equipment sector.

The report presents a bold Vision 2030 to position India as a global leader in India's mining and construction equipment (MCE) sector and outlines an action plan.

Currently valued at USD 16 billion, the sector is projected to grow at a 19 per cent Compound Annual Growth Rate (CAGR), unlocking a USD 45 billion opportunity by 2030, the joint report asserted.

India is now the fastest-growing MCE market among the top six global economies, surpassing even the US, Germany, and Japan, the report asserted.

According to the report, the mining and construction sector, a key enabler of infrastructure, energy, and industrial growth, commands a USD 18 trillion global market and contributes 16 per cent of global GDP.

In India, this sector is central to national development, contributing 22 per cent to GDP, ranking second only to China, and supporting over 70 million jobs.

India is the fastest-growing market among the top six global MCE markets, with a CAGR of 12 per cent over the past five years!

The expansion of the MCE sector is projected to contribute over USD 100 billion to India's economy by 2029-30 including 20 million jobs directly or indirectly.

This impact is driven by the growth of upstream and downstream industries, job creation and a boost to tax revenues, the report said.

To realise the full potential of Vision 2030, the report recommends structural and policy initiatives. Institutionalizing governance via a single nodal agency, Production Linked Incentive (PLI) scheme tailored for MCE, Accelerating MCE exports through Free Trade Agreement (FTAs), establishing mutual recognition arrangements for Indian certification standards, promoting technology adoption and automation, Rationalizing tax and import duties, Creating innovation forums including National R&D consortia and start-up accelerators, green incentives and clean-tech R&D support, Revamping underground mining and beneficiation regulations to unlock mineral potential are the key recommendations.

- ANI

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Reader Comments

Here are 6 diverse Indian perspective comments for the article:
R
Rajesh K.
This is fantastic news for Make in India! 🚜 With our infrastructure push and mining sector reforms, we can truly become global leaders. Hope state governments will cooperate to remove bottlenecks in land acquisition and clearances.
P
Priya M.
While the numbers look impressive, I hope environmental concerns aren't sidelined in this rush. Sustainable mining practices and proper rehabilitation of mined areas must be non-negotiable. Development shouldn't come at the cost of our forests and tribal lands.
A
Amit S.
As someone working in construction equipment manufacturing, this report validates what we're seeing on ground. Demand is skyrocketing! But we need more skilled operators - government should invest in vocational training institutes for heavy equipment operation.
S
Sunita R.
The PLI scheme recommendation is crucial. We saw how it boosted mobile manufacturing. If implemented properly for MCE sector, it can reduce our dependence on Chinese imports and create quality jobs. Fingers crossed! 🤞
V
Vikram J.
Good report but implementation is key. Our bureaucracy moves at snail's pace when it comes to approving new mining projects. Single nodal agency is a must - currently companies have to run between 10 different departments for clearances.
N
Neha P.
The job creation potential is exciting! But hope local communities near mining areas actually benefit. Too often, big companies come in, extract resources, and leave without developing the region. Corporate social responsibility should be strictly monitored.

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