PEEKING BELOW THE EARTH

Mining and tunnelling equipment are delving deeper into what they can unearth

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

In this context, many mining and tunnelling equipment manufacturers are launching new equipment with advanced features to cater to the new demands of the industry.

Gainwell Engineering (GEPL), a manufacturer of advanced mining solutions, has unveiled the first-ever domestically manufactured room and pillar mining equipment package. Delivered to Eastern Coalfields, the breakthrough equipment marks a significant milestone for the nation's manufacturing and coal mining sector. This major achievement furthers India's efforts to establish itself as a global hub for manufacturing excellence while promoting the 'Make in India' initiative in an otherwise imports-dependent sector, as envisioned by the Prime Minister. It has also begun a new chapter in strengthening the nation's vision for self-reliance in the manufacturing of high-end capital goods.