ENA Sectors 2025-05-28 12:51:44 <p><span style="font-size:14px"><strong>New Delhi, May 28 (KNN)</strong> India's mining and construction equipment (MCE) sector is projected to grow to USD 45 billion by 2030, according to a comprehensive report released jointly by the Confederation of Indian Industry (CII) and consulting firm Kearney.</span></p> <p><span style="font-size:14px">The CII-Kearney report outlines several critical policy and structural interventions necessary to achieve the Vision 2030 targets. </span></p> <p><span style="font-size:14px">These recommendations focus on institutional governance improvements, including the establishment of a single nodal agency to streamline sector oversight and coordination. </span></p> <p><span style="font-size:14px">The report advocates for the introduction of a Production Linked Incentive (PLI) scheme specifically designed for the MCE sector, similar to successful PLI implementations in other industrial segments.</span></p> <p><span style="font-size:14px">Export acceleration represents another key priority, with recommendations centered on leveraging Free Trade Agreements to enhance market access and competitive positioning. </span></p> <p><span style="font-size:14px">The report emphasises the importance of securing mutual recognition of Indian certification standards, which would facilitate international market penetration and establish India as a reliable supplier of high-quality mining and construction equipment.</span></p> <p><span style="font-size:14px">Technological advancement forms a central component of the recommended development strategy, with emphasis on promoting automation adoption and supporting clean technology research and development initiatives. </span></p> <p><span style="font-size:14px">The report calls for the creation of National R&amp;D consortia and startup accelerators to foster innovation within the sector and develop indigenous technological capabilities.</span></p> <p><span style="font-size:14px">Green incentives are highlighted as essential tools for encouraging sustainable practices and supporting environmental compliance across mining and construction operations. </span></p> <p><span style="font-size:14px">The report identifies several regulatory areas requiring attention to unlock the sector's full potential. </span></p> <p><span style="font-size:14px">Tax rationalisation and import duty adjustments are recommended to improve cost competitiveness and support domestic manufacturing capabilities. </span></p> <p><span style="font-size:14px">The comprehensive approach addresses both immediate operational challenges and long-term strategic positioning within the global mining and construction equipment market.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42234 https://knnindia.co.in/news/newsdetails/sectors/mining-construction-equipment-sector-set-to-hit-usd-45-bn-by-2030-cii-kearney-report 2025-05-28 12:51:44 knnindia.co.in