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Construction Equipment Guide 470 Maryland Drive Fort Washington, PA 19034 800-523-2200
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With a compound annual growth rate of 10% by the year 2027, the construction industry is one of the most competitive sectors in India. In the year 2025, we will be the third largest construction market in the world. In India alone, the construction industry provides for 9% of the Gross Domestic Product, being the second largest industry after agriculture.
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This continuous growth in infrastructure, mining and construction projects is anticipated to enhance the application scope of earth moving equipment. Thus, the construction and earth moving equipment market in India is expected to grow at a healthy CAGR of 20 to 25 per cent over the next few years, from FY13-14 levels of 48,000 units.
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Particularly, the majority of equipment that are responsible to contribute to the overall sales of construction equipment in India such as backhoe loaders and excavators are supposed to be taxed at 28 per cent. Well, though, the tax rate has increased, yet GST can help the sector greatly by improving its efficiency and reducing the overall ...
Construction Equipment Guide 470 Maryland Drive Fort Washington, PA 19034 800-523-2200
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Construction Equipment Guide 470 Maryland Drive Fort Washington, PA 19034 800-523-2200
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