Bangalore, Jan 22: 'Equipment India', a infrastructure equipment magazine to cater to the USD three billion industry hit the news stands today.
Indian infrastructure equipment space, growing at 30 per cent, had seen a number of multinationals making a beeline to India. The market would swell to USD 13 billion by 2015, Pratap Vijay Padode, Managing Director, ASAPP Media Information Group, the publishers of the magazine said here last night.
"Like automobiles, infrastructure equipment too has seen the entry of multinational manufacturers some of which have chosen to make India as a hub for their activities. The creation of the need for ancillary industries and the employment generation makes it a precious opportunity," he said adding the Chinese construction equipment industry alone is USD 18 billion now and therefore India's equipment industry is all set for a boom.
As per latest McKinsey report released in November last, the infrastructure equipment industry was expected to grow fast as over USD 400 billion worth of projects had to be executed in the next five years.
Major multinationals like JCB, Volvo, Schwing, Putzmeister, Hitachi, Komatsu and many more had started operations which was showcased in the recent exposition of 'Equipment India' here last month, Mr Padode said.
ASAPP Media Information Group also publishes magazines like 'Construction World and Infrastructure Today'.