India is poised to become the world’s third-largest economy by 2025, as per a study published in Lancet1. Driving this transformational journey is a multitude of growth drivers, including a growing construction industry that contributes nearly 9% to the Indian economy2 and is estimated to become the world’s third largest by 20223.
The construction industry is vital to India’s growth in more ways than just one. Aside from being integral to the GDP of the nation, it is also pivotal to the survival and evolution of an array of industries, in enabling the infrastructural growth that will fuel the nation’s aspiration to become self-reliant, apart from providing employment opportunities to millions of people.
After experiencing disruptions in the prevalent business environment, the industry is all set to rebound its growth trajectory at an estimated 11.6% in 20212. This will be fuelled by huge investments in infrastructure by the Government and private players. The Government has, in its budget, made its intent clear to support the private sector in building world-class infrastructure in India.
With a mission to improve every citizen’s quality of life, the Government aims to provide world-class roads and highways that connects to the remotest regions, state-of-the-art aviation, ports, and shipping infrastructure that unlocks economic growth and new employment opportunities.
The first-of-its-kind infrastructure project, National Infrastructure Pipeline (NIP), launched by the Government opens up unprecedented opportunities for the nation’s infrastructural growth. Encompassing 8,000+ projects and sectors such as transport, logistics, water & sanitation, social and commercial infrastructure, the project will see an estimated funding of US$ 1.9 trillion5 during FY 2019-25.
The thrust on infrastructure augurs well for the construction equipment industry, which faced several challenges in the wake of business uncertainties, including disruption to supply chain network, increased fuel prices and input costs, and shortage of manpower. Already, the economy and construction industry are showing signs of recovery. FY 2021 witnessed the construction of 13,298 kms of highways i.e. 37 kms per day3 – a milestone by the Ministry of Road Transport & Highways.
The surge in road and highway construction across the country has resulted in an increased demand for construction equipment, and Tata Hitachi Construction Machinery Pvt. Ltd., a Hitachi Group Company, is meeting this huge demand by manufacturing an assortment of construction equipment ranging from excavators and compactors to crushers and backhoe loaders (BHL) to wheel loaders (WL), pavers, and much more. The majority of the equipment is being manufactured within the country, giving a fillip to the “Make in India” initiative.
Meanwhile, to ensure timely completion of construction projects, there is a huge demand amongst builders and planners for high-quality machines that can offer the twin advantages of enhanced productivity and fuel-efficiency. Meeting these needs, Tata Hitachi has pioneered hydraulics technology and fuel-efficient engines that are used in its efficient range of excavators. For instance, its Zaxis GI excavators use regenerative hydraulics for superlative output and energy-efficiency while Tata Hitachi’s TL340H wheel loader is India’s first hydrostatic wheel loader that utilizes superior hydrostatic technology as against traditional hydrodynamic technology to maximize fuel savings. In addition, the recently launched CEV4 compliant equipment stand at the vanguard of Tata Hitachi’s commitment to environmental compliance. These include the SHINRAI PRIME Backhoe Loader and the TL340H PRIME Wheel Loader.
The emergence of advanced technologies are empowering operators & dealers to access real-time updates on machines and insights into job site on the go.
To enable the digital transformation of operations, Tata Hitachi Construction Machinery has developed ConSite, a next-generation service solution utilizing Information & Communication Technology (ICT), and InSite, a GPS and GPRS based remote machine monitoring application. This suite of solutions ensures proactive and predictive maintenance of machines, empowering builders to enhance site efficiency, deliver projects on time, and set benchmarks in the construction industry.
As one of India’s trusted partners and global leaders in innovation, Hitachi is actively partnering with the Government and other stakeholders through Collaborative Creation to accelerate the physical and digital transformation of the nation. Leveraging its superior OT x IT prowess and experience in the CE industry, Hitachi is contributing to strengthening the industry’s pillars, while contributing to Government of India’s initiatives like Digital India, Make in India, Smart Cities, and vision of “AatmaNirbhar Bharat” or Self-Reliant India. Hitachi understands the critical need for sustainable and resilient infrastructure in providing better access to basic services and amenities to people, while catapulting India towards a $5 trillion economy by 20256.
Through its Social Innovation Business, Hitachi is committed to propelling the development of world-class infrastructure in both rural and urban areas that will elevate citizens’ Quality of Life while enriching the Social, Environmental, and Economic values of the nation.
1. https://www.ibef.org/news/india-will-be-3rdlargest-economy-by-2050-lancet
2. https://www.indianconstructionindustry.com/overview.html
3. https://www.ibef.org/industry/infrastructure-presentation
4. https://www.india.gov.in/spotlight/bharatmala-pariyojana-stepping-stone-towards-new-india
5. https://indiainvestmentgrid.gov.in/national-infrastructure-pipeline
6. https://www.makeinindia.com/national-infrastructure-pipeline-building-india
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