Construction equipment sector grows 30% in Aug-Sep
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 on Tuesday.
The month-on-month growth in construction equipment was 25-30 % in the months of August and September and for the current fiscal, 30% growth is projected, CII Excon 2017 member Anand Sundaresan said.
In FY17, a total of 68,000 equipments 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.