India's mining and construction equipment sector is poised for significant growth. Currently valued at USD 16 billion, the sector is projected to grow at a 19 per cent CAGR, unlocking a USD 45 billion opportunity by 2030, according to CII-Kearney Report. According to the report, the mining and construction sector, a key enabler of infrastructure, energy, and industrial growth, commands a USD 18 trillion global market and contributes 16 per cent to global GDP. In India, this sector is central to national development -- contributing 22 per cent to GDP, ranking second only to China, and supporting over 70 million jobs. India is the fastest-growing market among the top six global MCE markets surpassing even US, Germany and Japan, with a CAGR of 12 per cent over the past five years. India's rapid growth is positioning it as a key player in the global MCE landscape. The expansion of the MCE sector is projected to contribute over USD 100 billion to India's economy by FY30, adding 20 million jobs directly or indirectly. This impact is driven by the growth of upstream and downstream industries, job creation and a boost to tax revenues. (ICE NEW DELHI)

Fonte notizia: Economic Times