Amid this increasing competition, domestic companies
set forth for joint ventures and collaborations with the global players to get into the
over the market competitiveness.
These opportunities, however, comes with its own set of challenges.
The gap between the Indian market and developed market:
One of the main problems within the sector is the gap in terms of technological maturity
between the Indian market and the developed markets. The industry must strive to become
end-to-end solution providers and must focus on applying mechanical and embedded
electronics in a calculative manner, rather than just try to improve the powertrains and
Unavailability of industry experts:
A large talent pool is what is necessary for this industry and that’s exactly what we are
in. India produces a large number of engineers every year but there is a considerable gap
between their ability and industry usability. In order to overcome this, there must be
and development programs as well as innovation labs, R&D labs, tests, and validation
But for this to materialize, the government, as well as R&D institutes, must take the
order to bridge the technical gap that exists, it is necessary that the industry must take
calculative and selective steps to climb the technology ladder.
The problems associated with finance is another drawback for this industry. In the current
scenario, the interest rates for financing the equipment is quite high in the construction
and needs to be reduced significantly. Amendments in GST along with strong constitutional
changes will also help in a big way. This will be a major support for equipment
it will help in reducing taxes on the sales of equipment between different states.
Slow progress made by our government on most of the infrastructure-related projects is
creating an obstacle for its growth. The government had made several announcements before
on the expected increase in the business capacity in India. Many companies had increased
capacities believing this. Unfortunately, these aren’t being utilized properly now,
adversely affected the company’s financial positions. Further, the government must keep a
close watch on the used machinery that is being imported without any proper evaluation or
AXISCADES provides perfect heavy engineering solutions with over three decades of exposure to
machines, design, and development in the industrial vertical. Here, they strive to deliver
real value that
caters to your energy needs. The major services offered are product design, design support,
validation, Engineering software development, and PLM customization as well as manufacturing
support. They have the right mix of onshore/offshore-cost arbitrage along with proven
management methodology. AXISCADES has a global footprint of 14 locations and the ability to
new services and locations.
Download the brochure for more details.