India’s trailer market: On the prowl

From the June 2012 issue.

India is undergoing an infrastructure boom that is fuelling the domestic transport market. But, is this just the beginning?

Ramping up the domestic economy with an upsurge in manufacturing and infrastructure development and diluting the reliance on imports is the aim of many emerging markets, and India is no exception. But India’s industry has long performed below its potential: Although the country’s manufacturing exports are growing, the sector itself only generates 16 per cent of India’s GDP – much less than the 55 per cent from the service industry1.

However, India’s rapidly expanding economy, which has grown by an average of seven per cent over the past decade, now gives the sector a huge opportunity to reverse the tide – if infrastructure development can keep pace with progress and thereby support the course correction. In the past, that has not always been the case.

But, a burst of activity to not only meet demand but to also insulate the domestic economy against a more widespread global slowdown is now making up for such omissions and is likely to boost demand for specialised transport equipment in a breath. Will the local transport equipment industry embrace that upsurge to realise its full potential or leave the field to multinational OEMs?

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