Construction Equipment Sales Remain Flat in Q1 FY25 Due to Election Impact in India
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India: The Indian Construction Equipment Manufacturers’ Association (ICEMA) has not yet released official sales data, but industry estimates indicate that the slowdown in the award of road construction projects and subdued demand due to general elections impacted sales. While sales of construction equipment grew 24% to 123,671 units in FY24, and 29% the year before, the current fiscal year faces challenges from the rainy season and delayed payments for infrastructure projects. The ICEMA recently met with transport and roads minister Nitin Gadkari and received assurances of positive interventions.
Source: Realty +