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Collaborating for Constructive Growth
Articles- Mar 27,25
India’s real Gross Domestic Product (GDP) grew 6.2 per cent in the October to December 2024 period, the third quarter of the fiscal year, picking up pace from 5.6 per cent growth in the previous quarter, according to the National Statistics Office (NSO).
India’s real Gross Domestic Product (GDP) grew 6.2 per cent in the October to December 2024 period, the third quarter of the fiscal year, picking up pace from 5.6 per cent growth in the previous quarter, according to the National Statistics Office (NSO). This steady economic expansion underscores India's resilience and growing prominence in global markets. The growth was primarily driven by an 8.3 per cent rise in government spending (primarily on infrastructure) and a 6.9 per cent increase in private consumption, compared to 2.3 per cent and 5.7 per cent in the same period last year. Exports also surged 10.4 per cent in Q3 FY25, significantly outpacing the 3 per cent growth recorded the previous year. This positive trajectory further strengthens India’s role in the global engineering, manufacturing, and construction equipment sectors.
After an 8.5 per cent decline in FY24 due to global trade disruptions and supply chain constraints, India’s engineering goods exports have rebounded sharply in FY25. The first ten months of the fiscal year saw a 9.92 per cent growth, driven by strong demand for industrial machinery, automotive components, and electrical equipment. Engineering exports are projected to reach between $118 billion and $120 billion in FY25. Despite short-term challenges, India’s engineering exports hold immense long-term potential. If the current trend continues, engineering exports could surpass $150 billion by FY27, making the sector a key driver of India’s economic growth.
Fueled by significant infrastructure investments, India’s construction equipment (CE) industry has recorded its highest volumes and exports in three years. According to the Indian Construction Equipment Manufacturers’ Association (ICEMA), the industry registered 98,970 units in April-December 2024, marking a 5 per cent increase from 94,685 units in 2023 and a 34 per cent jump from 73,795 units in 2022. Exports of construction equipment also reached a three-year high, with 9,733 units shipped in the first nine months of FY25, compared to 9,181 units in 2023. With an annual growth projection of 12 per cent, the Indian CE industry is expected to reach $25 billion by FY30. Given the government’s infrastructure push and India’s ambition to become a manufacturing hub, CE exports are projected to rise to $3 billion by 2030, capturing 1.2 per cent of the global market share.
India’s engineering and construction equipment sectors will take center stage at two prestigious global trade fairs in 2025: Hannover Messe (March 31-April 4) and Bauma (April 7-13), both in Germany. ASAPP Info Global Group, through this India Next edition, is providing Indian exporters a platform to showcase their latest innovations at these events, fostering partnerships and international business expansion.
As a leading Indian media house specialising in manufacturing, engineering, construction, and infrastructure sectors for over three decades, ASAPP Info Global Group provides the ideal platform—through its publications, conferences, and exhibitions—for global companies looking to engage with key stakeholders in India. With industry-leading publications such as Construction World, Indian Cement Review, Equipment India, Infrastructure Today, and Smart Manufacturing & Enterprises, along with premier events like RAHSTA Expo, Construction World Global Awards, Equipment India Awards, Cement Expo, and MultiLogistix Expo, ASAPP remains actively involved in facilitating business interactions across these crucial sectors.
With favorable policies, infrastructure development, and incentives like PLI schemes strengthening India's position in the global manufacturing and construction landscape, ASAPP is poised to become a trusted global partner for companies seeking growth and success in these sectors.
global trade disruptions
supply chain
infrastructure investments
India’s construction equipment
Indian Construction Equipment Manufacturers’ Association
Bauma
manufacturing
engineering
construction
and infrastructure sectors
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