₹25,000 Cr Opportunity for Indian Construction Equipment Vendors by FY30: ICRA
ICRA forecasts that India's
construction equipment industry could see an annual market opportunity of
₹25,000 crore by FY2030 due to increased localisation. Currently, 50% of
components are imported, but localisation is expected to rise to over 70%,
driven by rising domestic demand and government initiatives. This shift will
reduce import dependence, improve supply chain resilience, and create jobs. As
the market grows, Indian vendors may also find significant export
opportunities, further boosting the industry’s potential.
Current Issue
01-2026
