Construction equipment manufacturer Tata Hitachi is upbeat about the growth prospects in the backdrop of the Centre’s emphasis on fast tracking infrastructure development, especially the ₹110 lakh crore investment the government has proposed on the National Infrastructure Pipeline (NIP) projects.
The push is bound to result in good traction for the equipment and going forward, the market will improve. “We have already seen good improvement in the last few years and in coming years expect average 10-15% [revenue] growth,” said Sandeep Singh, Managing Director, Tata Hitachi Construction Machinery Company.
Speaking at the Hyderabad launch of the 5-Tonne Wheel Loader ZW225, which the company described as a Made-in-India product with Japanese technology, Mr. Singh said that while there is a pick in the demand for the machines post the pandemic impact, rising input costs and Chinese manufacturers of the equipment resorting to a price war, continue to pose challenges.
