Construction equipment sector grows 30% in Aug-Sep 01/11/2017

Construction equipment sector grows 30% in Aug-Sep
01/11/2017 00:26
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The construction equipment sector grew 25-30 per cent in August and September this year and the industry players are expecting similar performance for the rest of FY'18, an official said according to the PTI report.
The month-on-month growth in construction equipment was 25-30 per cent in the months of August and September and for the current fiscal, 30 per cent growth is projected, CII Excon 2017 member Anand Sundaresan said.
In FY17, a total of 68,000 equipment were sold.
The growth has been witnessed despite GST on construction equipment remaining at highest bracket of 28 per cent which the industry has been contesting.
There have been some challenges but August and September numbers show that GST has been positive for the industry, officials said.
Meanwhile, CII today organised a road show in the city for CII Excon 2017--trade fair on construction equipment.
The event will take place from December 12 to 16 at the Bangalore International Exhibition Centre, Bengaluru, a statement said.
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