COLOMBO | Saturday October 19, 2019 | NewsLanka | Business | by Claude Gunasekera | The largest construction equipment exhibition in South Asia ‘EXCON 2019’ is to be held from 10-14 December this year at Bangalore International Exhibition Centre, Bengaluru India. More than 1250 companies including 350 from abroad with 10 Country Paillions will sowcase their products and 50,000 + business visitors are expected to patronise the event. In addition to a large number of Copanies from India and China, several other sppliers and manfacturers from USA, UK, Germany, France, Italy, Switzerland, Japan, Singapore, Turkey, Finland, Ukrain and UAE have confirmed their participation. This event will showcase the best of equipment and technology available for modern infrastructure creation said a spokesman at Confederation of Indian Industry (CII) the organisers of the exhibition. Schwing Stetter India a leading constrction equipment manfacturer in India will introdce a range of new machines all set to revolutionize the landscape of the construction and mining industry in Asia said its Managing Director V.G. Sakthikumar.
The previous (9th) edition of this biennial initiative organised in 2017 featured 918 exhibitors including 226 exhibitors from abroad and was spread over an area of 26,00,000 square feet with the attendance of 55,224 business visitors including over 2034 from Sri Lanka.
of Indian Industry (CII), India’s Apex Industry Association, has scheduled a
Road Show in Colombo on October 21, 2019 in a bid to promote this iconic event.
Sajith Premadasa, Minister of Housing and Construction will present as Chief Guest
at the Taj Samudra, Colombo.
The Confederation of Indian Industry (CII) works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes. With 66 offices, including 9 Centres of Excellence, in India, and 10 overseas offices in Australia, China, Egypt, France, Germany, Singapore, South Africa, UAE, UK, and USA, as well as institutional partnerships with 355 counterpart organizations in 126 countries. CII serves as a reference point for Indian industry and the international business community and is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India’s development process
Infrastructure is a key driver for the Asian Economy
The Indian economy is currently around US $3 trillion (GDP at current market prices). Depiction of the Indian economy, projecting the country’s gross domestic product (GDP) would grow at 7% in 2020, against a five-year low of 6.8 per cent the preceding year. This low in GDP was with political stability facilitating a pick-up in demand and investments. India would need to growth at 8 per cent annually to become a $5-trillion economy by FY25, a survey projected. India’s sustainable development requires investment worth of US $ 777 billion (Indian Rs.50 trillion) infrastructure by 2022.
In the Union Budget 2019-20, the Government of India has given a massive push to the infrastructure sector by allocating US$ 63 billion for the sector. With initiatives like ‘Housing for All’ and ‘Smart Cities Mission’ the Government of India is working on reducing bottlenecks and impeding growth in the infrastructure sector. US$ 31.81 billion will be invested in the smart cities mission. In Union Budget 2019-20, US$ 11.5 billion has been allocated for National Highways Authority of India (NHAI) while US$ 2.63 billion has been allocated to Pradhan Mantri Gram Sadak Yojana (PMGSY) for development of roads in rural and backward areas of the country. The Indian Railways also received allocation of US$ 9 billion. Indian Railways will require investment of US$ 545.26 billion by 2032 for capacity addition and modernisation. The capital expenditure in the sector is expected to be increased by 92 per cent annually. In 2019-20 Union Budget, Indian government announced US$ 11.5 billion for road transport and highway. The Government of India will construct 65,000 km of highways by 2022. The Airports Authority of India aims to bring around 250 airports under operation across the country by 2020. Metro rail projects worth over $7 billion are underway in India and this pile will probably grow.