CHANGING TACTICS

Mining equipment is undergoing massive changes in terms of technology

- Molly R

India's mining and construction equipment (MCE) industry is poised for significant growth, with localisation levels expected to increase to 70-80 per cent in the next 5-7 years, said ICRA in a report. It also noted that this shift could help the industry save nearly $3 billion in forex annually and boost India’s cost competitiveness, enhancing its export potential. The MCE industry has already grown at a CAGR of 12% over the past decade (FY2015-FY2024), reaching 1.36 lakh unit sales in FY2024. The industry is set to become a $25 billion market by 2030, according to projections.

A very recent report states that India’s MCE sector, currently valued at $16 billion, is projected to grow at a CAGR of 19% to reach $45 billion by 2030, according to a joint report released by the CII and Kearney.

Mining is a highly specialised, intricate and demanding process that can yield valuable results. Understanding the key concepts about mining, as well as the heavy equipment and technology used to enable modern workflows in the industry, can help business owners entering the field for the first time - even if they have prior experience.

RAPID CHANGES

The Indian mining sector is transforming rapidly, driven by the demand for critical minerals, greater digital adoption, and a focus on safety and sustainability. Mechanisation and the use of advanced equipment are increasing across the board. The future lies in automation, real-time monitoring, and predictive maintenance becoming standard across operations. Chandrashekar V, MD & CEO, GMMCO, says, “GMMCO has been a key partner to India’s mining industry for over four decades.