Sri Lankan firms seek partnerships at India’s EXCON 2025
Daily FT: The 13th edition of EXCON 2025, the world’s third-largest construction equipment exhibition organised by the Confederation of Indian Industry (CII), opened yesterday at the Bangalore International Exhibition Centre (BIEC), Bengaluru, and will conclude on 13 December.
The event also attracted two Sri Lankan companies, LAUGFS Rubber and OTR Enterprise Solutions, both exporters of tyres and steel rims for large-scale automobiles.
Both companies are looking to expand their presence by forming new partnerships in India to increase exports.
EXCON 2025 Co-Chairman Deepak Shetty said, “The construction equipment industry is committed to making India the second largest and fastest-growing construction equipment (CE) market globally, tripling its size to $ 25 billion and emerging as a global manufacturing and export hub.”
Currently, Indian CE products are exported to over 135 countries, including Sri Lanka.
CII President Designate and EXCON 2025 Chairman R. Mukundan said, “India is on a historic growth trajectory, aiming to become a $ 30 trillion economy by 2047, with infrastructure set to be the backbone of this transformation.”
“Mega projects like Bharatmala, high-speed rail, and Smart Cities under PM Gati Shakti are driving connectivity and urban development at an unprecedented scale.”
“The construction equipment industry is committed to making India the second largest and fastest-growing CE market globally, tripling its size to $ 25 billion and overtaking China to place second only to the United States.”
“As the nation moves toward its $ 30 trillion goal, EXCON, organised by the Confederation of Indian Industry (CII), will continue to empower stakeholders, foster collaboration, and drive modernisation, making it the epicentre of India’s infrastructure revolution,” added Mukundan.
CII Director General Chandrajit Banerjee said, “EXCON offers unparalleled opportunities for networking and collaboration. Spread across 3,500,000 sq. ft., the event will feature over 1,250 exhibitors, including participants from 20 countries and seven dedicated international pavilions, and unveiled more than 300 product launches.”
OSL take:
Sri Lanka’s construction industry is once again picking up pace following the slowdown experienced due to the economic crisis faced by the country in 2022. Along with Sri Lanka’s growing economic activities and the restarting of stalled construction projects, the construction industry has also picked up operations. While Sri Lanka’s development programme has presented many business/investment opportunities, the rebuilding programme following Cyclone Ditwah that destroyed much infrastructure in the country has further expanded opportunities in the country’s construction industry and related sectors. The strength, resilience and growth of Sri Lanka’s construction industry are indicative by the expansion of Sri Lankan construction businesses into foreign markets through partnerships or joint ventures. This expansion by Sri Lankan construction businesses present lucrative business/investment opportunities for foreign businesses/investors on the lookout for lucrative ventures in the region, especially in Sri Lanka. With Sri Lanka on a development/rebuilding programme aimed at taking the country into the next stage of development as an emerging business destination in the South Asian region, the business/investment opportunities presented by Sri Lanka’s construction industry would guarantee returns on investments (ROIs).
| Article Code : | VBS/AT/20251212/Z_3 |