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In the third quarter of the current fiscal year compared to Q3 FY22, the Indian construction equipment market experienced strong YoY sales growth of 23%, driven by improved performance across all equipment segments, including earthmoving, material handling, material processing, and road construction equipment. Material handling equipment and concrete equipment both experienced QoQ sales growth of 25% and 18%, respectively, signalling a surge in EME sales. However, issues like the conflict between Russia and Ukraine and unpredictable, recurrent cycles of covid continue to be concerning. Equipment for processing materials showed a 5% quarterly rise in the third quarter of the current fiscal year, while equipment for building roads saw a 75% QoQ growth.