Govt’s capex push to catapult India as global construction equipment hub: HD Kumaraswamy

Posted on by Vividh Bharathi

New Delhi, Feb 25 (IANS) Union Minister for Heavy Industries and Steel, HD Kumaraswamy, on Wednesday said the government’s allocation of Rs 12.2 lakh crore as capital expenditure (capex) in the Budget for 2026-27 would propel India’s construction equipment industry towards global leadership.

He underscored the critical role of a robust financing architecture in accelerating India’s infrastructure and manufacturing ambitions, while addressing the Annual Construction Equipment Finance Conclave in the national capital. The minister said, “India today stands as the world’s fourth-largest economy, and we are firmly on course to become the third-largest in the coming years. This growth trajectory is powered by infrastructure expansion, manufacturing depth and sustained capital investment.”

Kumaraswamy emphasised that the conclave’s theme, “Building a Resilient Infrastructure and Construction Equipment Financing Ecosystem: Towards Building Domestic Strength for Global Reach,” was both timely and strategically aligned with India’s growth trajectory.

Highlighting the Centre’s infrastructure thrust under the leadership of Prime Minister Narendra Modi, the Minister noted that the government is building long-term industrial capacity alongside physical assets.

Kumaraswamy emphasised the proactive role of the Ministry of Heavy Industries in strengthening the construction equipment ecosystem through targeted policy interventions and incentive frameworks.

He noted that the Union Budget 2026–27 has reaffirmed the government’s commitment through a historic public capital expenditure allocation of Rs 12.2 lakh crore, describing it as a structural, multi-year push spanning highways, railways, logistics corridors, ports, renewable energy infrastructure and urban expansion.

The minister stressed that a resilient financing ecosystem would have multiplier effects across the economy. “A strong Construction Equipment financing ecosystem will not only strengthen manufacturers; it will empower contractors, MSMEs, logistics operators and infrastructure developers across the country,” he remarked.

Kumaraswamy called for collective action to position India as a global hub for construction equipment manufacturing and financing.

The minister also drew attention to the proposed Scheme for Enhancement of Construction and Infrastructure Equipment (CIE), being steered by the Ministry of Heavy Industries, aimed at strengthening domestic manufacturing of high-value and technologically advanced equipment.

“This initiative is designed to build strategic capability within the country and enable our manufacturers to scale with confidence, innovate with security and compete globally,” he observed.

Citing industry estimates, Kumaraswamy noted that the Indian Construction Equipment market is currently valued at around $9.5 billion and holds the potential to more than double by 2030. The sector recorded sales of over 1,40,000 units in FY25 and has set an ambitious target of evolving into a $25-billion market by the end of the decade.

He further highlighted the transformative impact of emerging technologies on the sector. “Automation, AI-enabled fleet management, predictive maintenance, and electric and hybrid construction equipment are redefining operational efficiency,” the Minister said, adding that government initiatives such as PM E-DRIVE are accelerating the transition towards cleaner and more sustainable industrial growth.

–IANS

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Body of missing driver recovered after car fell into sea at Chennai harbour

Chennai, Dec 19 (IANS) The body of Mohammed Shahi, 33, who went missing on Tuesday night after the car he was driving plunged into the sea at Chennai Harbour, has been recovered.

Reports said his body was found about 100 metres from the site of the accident.

Shahi was working as a temporary chauffeur for a Coast Guard officer at the Chennai Port when he was tragically killed while reversing a Tavera vehicle at Jawahar Dock-5 on Tuesday night (December 17).

The car, carrying Coast Guard Officer Jagendra Kanda, suddenly lost control and fell into the sea.

Kanda managed to break the windshield, escape through the car window, and swim to safety, but he fainted soon after reaching the shore. He was sent to a hospital for treatment.

Tragically, Shahi remained trapped inside the vehicle as it sank to a depth of 85 feet. A rescue operation was launched immediately, involving over 30 Coast Guard personnel, 20 firefighters, scuba divers, and port police.

Although the rescue team recovered the submerged vehicle, they could not locate Shahi on Tuesday night due to poor visibility and challenging conditions. The search resumed on Wednesday but continued without success until Thursday morning when Coast Guard and Tamil Nadu Fire and Rescue officials finally recovered Shahi’s body. The body has been sent for post-mortem.

On Wednesday, Shahi’s family arrived at the harbour and staged a protest demanding immediate action to locate him. Police officials spoke to the family to pacify them as search efforts continued.

Police said that Shahi’s body would be handed over to his family after the post-mortem examination at the Rajiv Gandhi Government General Hospital.

Family members and social workers have urged Chennai Port Trust authorities to provide compensation to the deceased’s family.

The Harbour Police have registered a case, and a probe is underway. Police are also investigating whether the car’s tire burst, causing Shahi to lose control of the vehicle.

Coast Guard officers have been deployed at Chennai Port for security measures.

–IANS

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India doubles seafood exports in 10 years to Rs 60,524cr; eyes Rs 1.56 lakh cr target by 2030

New Delhi, Feb 4 (IANS) With India’s seafood exports more than doubling over the last 10 years from Rs 30,213 crore in 2013-14 to Rs 60,523.89 crore during FY 2023-24, the Centre is now aiming to achieve an export turnover of $18 billion (Rs 1.57 lakh crore) by 2030, according to a statement issued by the Department of Fisheries on Tuesday.

The target forms a which forms part of Vision Document-2030 for India’s seafood exports that has been formulated by the Marine Products Export Development Authority (MPEDA) which functions under the Ministry of Commerce and Industry, the statement said. MPEDA plays a key role in overseeing the export of seafood from the country.

The Department of Fisheries is implementing the flagship PMMSY scheme with an investment of Rs 20,050 crore in the fisheries sector for a period of 5 years with effect from FY 2020-21 to FY 2024-25 across all states and UTs which has led to the jump in exports.

The scheme envisages enhancing marine exports to Rs 1 lakh crore in 2024-25.

PMMSY addresses critical gaps in fish production, productivity, quality, technology, post-harvest infrastructure and management, modernization and strengthening of value chain, reduction of post-harvest losses and marketing infrastructure, the statement explained.

For creation and strengthening of marketing infrastructure, PMMSY has supported 27,189 units of fish transportation facilities (refrigerated vehicles, insulated vehicles, two wheelers/ three wheelers), 21 state of the art wholesale fish markets, 202 fish retail markets, 6,694 fish kiosks and 5 e-platform for e-trading and e-marketing of fish and fisheries products with total outlay of Rs 1,654.51 crore in all the states/UTs across the country, the official statement said.

To provide real-time and accurate price information to fishers and fish farmers and to help them for negotiating better price and profitability, the Department through National Fisheries Development Board (NFDB) has launched the ‘Fish Market Price Information System’ (FMPIS) to capture and disseminate fish market prices of commercially important marine and inland fishes from 111 wholesale and retail fish markets in 29 states/UTs.

Further, the Department of Fisheries signed a Memorandum of Understanding (MoU) with Open Network for Digital Commerce (ONDC) with an objective to provide a digital platform and empower all stakeholders including traditional fishermen, fish farmers producer organisation, entrepreneurs from fisheries sector to buy and sell their products through e-market place.

Further, PMMSY has supported 2,195 fisheries cooperatives as Fish Farmers Producer Organizations (FFPOs) with project outlay of Rs. 544.85 crore through National Cooperative Development Corporation (NCDC), Small Farmers’ Agribusiness Consortium (SFAC) and National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) as implementing agencies, according to the statement.

In order to enhance India’s export competitiveness and higher price realisation, the PMMSY supports a basket of interventions/activities along the fisheries value chain including quality fish production, expansion, diversification and intensification of brackish water aquaculture, promotion of export-oriented species, infusion of technology, robust disease management and traceability, training and capacity building, creation of modern post-harvest infrastructure with seamless cold chain, development of modern fishing harbours and fish landing centres, the statement added.

–IANS

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Confusion in Bengal Congress as central leadership warms to Trinamool

Kolkata, Aug 9 (IANS) Confusion is brewing within the West Bengal Congress over its potential alliance or seat-sharing strategy for the 2026 assembly elections, amid clear signs that the party’s central leadership — including Leader of the Opposition in the Lok Sabha Rahul Gandhi — is drawing closer to the Trinamool Congress (TMC).

The confusion deepened further after Rahul Gandhi met one-on-one with Trinamool Congress General Secretary, Abhishek Banerjee, earlier this week, where Banerjee reportedly briefed Gandhi about the issues that Trinamool Congress wished to highlight against the BJP and the Union government.

Now the central question troubling state Congress leaders is whether the party will continue its seat-sharing arrangement with the CPI(M)-led Left Front — already going on since 2016 — or switch to a new partnership with the TMC for the 2026 polls.

Officially, the state Congress President in West Bengal, Suvankar Sarkar, has said that whether at the national level or the state level, the final decision of alliance or seat-sharing agreement ultimately rests with the All India Congress Committee (AICC).

“There is no instruction from AICC on the issue as yet. The decision taken by AICC will be final,” he said.

However, a senior leader from the West Bengal Pradesh Congress Committee (WBPPC) and a former party legislator, said on condition of anonymity that an alliance with Trinamool Congress will mean that the state unit of Congress would be left at the mercy of West Bengal’s ruling party.

“We will have no bargaining position on seat sharing, and state Congress will have to remain satisfied with whatever little is offered by the Trinamool Congress leadership. Exactly that was our experience both in the 2009 Lok Sabha elections and 2011 West Bengal assembly elections, when we had to accept whatever little was offered to us by Trinamool Congress,” he said.

According to him, since the 2016 West Bengal assembly elections, Congress has always been in a comfortable bargaining position with the CPI(M)-led Left Front.

Another senior state Congress leader expressed apprehension that an understanding with Trinamool Congress would invariably mean further erosion in Congress’s vote percentage in the state.

“In that case, the anti-Trinamool Congress section among dedicated Congress voters will either opt for the BJP or the Left Front. The possibility of dedicated Congress leaders and workers defecting to the BJP could not be ruled out,” he said.

According to him, Congress’s vote percentage share in West Bengal in the 2014 Lok Sabha polls was a paltry 4.72 per cent. “Now it is to be seen how much the figure will erode after the 2026 assembly polls in case of an understanding with the Trinamool Congress,” he added.

–IANS

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