India: Construction equipment sector sees strong growth rate

In the first half of 2016, India’s construction equipment and earthmoving industry -- the signposts of economic activity -- has seen a growth rate of more than 40% according to a top official at JCB India, one of the largest equipment providers in the country.

According to JCB, 21,869 units in the construction equipment sector had been sold which represents a growth of 47.6% over the same period of the previous year.

Moreover, the Indian government announces over the same period of time an 8.25 per cent growth in the cement category of the Index Core Industries, a further proof that the construction sector is seeing a revival.

India’s industry slump of the last four years is showing signs of recovery thanks to increased highway projects, government spending on water and the building of new cities in Andhra Pradesh.