A new report highlights the growth for sales of construction machines into the Indian market. This market did see a drop in the 2014-2015 period but has been growing quickly since 2016. In 2016 52,000 construction machines were sold in India, an increase of 37% over the previous year, according to the report by Off-Highway Research. The report also suggests sales of construction machines will continue to grow for the next five years in India, climbing by as much as 50% to hit an impressive 70,000 units in 2021.
Italian firms have benefited from the increase in the Indian market for construction machines, according to the Italian equipment association UNACEA. Its research shows that the first eight months of 2017 saw a 60% increase in imports of Italian made construction machines, reaching a value of €35 million. This compares well with sales of Italian construction machines to India for the same period in 2014. The first eight months of 2014 saw Italian construction machine sales to India of just €6.4 million.
"The growth of the Indian market of construction equipment, the increase in the foreign trade with India, the number of joint ventures and technological collaborations between our two countries are all signals to how it is important to support SMEs who decide to make business in India – said Paolo Venturi, president of UNACEA. As a result, UNACEA has set up an Italian construction machine pavilion at the Excon construction machines show being held in India.