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ICRA has adjusted its sales forecast for India’s mining and construction equipment (MCE) sector in FY2025, predicting a 5-7% decline compared to the earlier estimate of 12-15%. The revision comes after a 2% year-on-year sales growth in the first half of FY2025, despite election and monsoon-related infrastructure slowdowns. Optimism around ongoing infrastructure policies supports this outlook. However, sluggish project awards and tighter financing could dampen demand in the year's second half, particularly in road construction, which is the primary driver of MCE sales in India.