“Lanka can benefit immensely if road link with India expedited”

Sri Lanka will be able to reap move economic benefits if the proposed rail and the road link between India and Sri Lanka can be expedited said Chairman Confederation of Indian Industry, (CCl) Vijayakrishnan Venkatesan at the launch of EXCON construction Exhibition in Bangaloru. The event will open on Tuesday and will be held for 5 days in Bangaloru and 15 countries including Sri Lanka would be participating. He said that it will give a major boost for trade between the two countries as transport cost would be cheaper than from sea or air transport.

“Heavy infrastructure equipment too can go at faster and a cheaper rate to Sri Lanka via rail link.”

A rail link between India and Sri Lanka did exist in the two countries until 1966. The two leaders Prime Minister Narendra Modi of India and President Ranil Wickremesinghe did have talks recently to resume this link. A rail and road link between the two countries will also create a major plus point for tourism as it will create a very cheap way to move a cross between the two countries.

Chairman, CII Karnataka said, “Karnataka is emerging as a vibrant manufacturing hub in the country. EXCON has helped to increase the GSDP of Karnataka. With the construction sector reviving in Sri Lanka, the demand for new equipment from Sri Lanka to India is picking up, said Co chairman Confederation of Indian Industry (CCI) Dimitrov Krishanan.

“We are excited to present the 12th Edition of EXCON, with the theme, “Building India’s Tomorrow.” The Construction Equipment (CE) industry made a remarkable resurgence in the fiscal year 2022-23, achieving an impressive 26% growth. This outstanding performance propelled total sales to surpass the one lakh milestone, firmly establishing India as the world’s third-largest CE market. Moreover, the indian Construction Equipment industry is positioning itself for remarkable growth, targeting over 15% year-on-year increase in the next five years.”

“This ambitious goal underscores their commitment to providing the cutting-edge machinery and equipment needed to support the industry’s transformation, ensuring that construction projects across the nation are not only innovative but also executed with enhanced efficiency, and precision with a focus on sustainability,” he further added.

Nitin Jairam Gadkari, Minister for Road Transport & Highways, Government of India will inaugurate CII EXCON – South Asia’s’ Largest Construction Equipment Trade Fair on 12 December 2023 at the Bangaloru International Exhibition Centre, Bengaluru.

The Government of Karnataka is the Host State for EXCON 2023. The Ministry of Road Transport & Highways, The Ministry of Heavy Industries, Government of India and the National Highways Authority of India (NHAI) are supporting partners to the event. The Indian Construction Equipment Manufacturers’ Association (ICEMA) is the sector partner of the event.

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