India’s mining and construction equipment sector to reach $45 billion by 2030: Report, ET EnergyWorld

New Delhi: India’s mining and construction equipment (MCE) sector, currently valued at $16 billion, is projected to grow at a compound annual growth rate (CAGR) of 19 per cent to reach $45 billion by 2030, according to a joint report released by the Confederation of Indian Industry (CII) and Kearney.

India has become the fastest-growing MCE market among the top six global economies, surpassing the United States, Germany, and Japan. The Indian MCE sector has recorded a 12 per cent CAGR over the past five years.

Globally, the mining and construction sector is valued at $18 trillion and contributes 16 per cent to global GDP. In India, the sector contributes 22 per cent to GDP and supports over 70 million jobs. The report notes that India ranks second only to China in its contribution to global mining and construction activities.

The projected growth of the MCE sector is expected to add more than $100 billion to India’s economy by FY30, including the creation of 20 million jobs through upstream and downstream industrial growth, increased tax revenues, and employment generation.

The CII-Kearney report recommends several policy and structural interventions to realise the Vision 2030 target. These include institutionalising governance through a single nodal agency, introducing a Production Linked Incentive (PLI) scheme specific to the MCE sector, and accelerating MCE exports via Free Trade Agreements (FTAs).

The report also calls for mutual recognition of Indian certification standards, promotion of automation and technology adoption, rationalisation of taxes and import duties, and the creation of National R&D consortia and startup accelerators.

Additional recommendations include providing green incentives, supporting clean-tech research and development, and revising underground mining and beneficiation regulations to unlock India’s mineral potential.

• Published On May 26, 2025 at 07:10 PM IST

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