Budget expectations from the construction equipment industry industry

Hi,

 

Please find enclosed a quote from Mr. Rajiv Sethi, Managing Director of Gemini Equipment & Rentals Pvt Ltd. Also find attached his picture & profile.

 

Regards,

Chavneet Sabherwal

Corporate VoiceIWeber Shandwick

Vilco Centre, 4th Floor, B Wing 8 Subhash Rd,

Vile Parle (East) near Garware House

Mumbai 400057

Telephone: +91 22 40311241 I M: +91 9820165470 I Fax: +91 22 2202 2391

Email: chavneet@corvoshandwick.co.in

www.webershandwick.com

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"India, with its abundant land mass area and a billion strong population is a major market for infrastructure development. The Indian construction industry is set to achieve its true potential of being a world beater, which clearly suggests the huge opportunity for various industry players. For achieving this, we desire a larger budgetary allocation to the construction equipment industry that will bring about consistent and uniform development leading to the increase in the GDP.

The willingness of the Government to revive & complete the projects that have been put on the backburner due to the adverse financial situation affecting the economy should be emphasized in the Budget. Small players which perform support services to the construction equipment industry are in urgent need of more compatible interest rates for Finance to overcome the reluctance of these small entrepreneurs to invest in new equipment.  

Provisions to alleviate from the current destabilization of Indian currency should be taken into account while fixing the rates of various direct and indirect taxes and reduce them proportionately as they drive down the equity and internal rates of return (IRR) for infrastructure projects that will help the construction equipment industry to flourish and grow at a faster rate."

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