The PLI scheme is a positive step toward enhancing India’s competitiveness in the global construction & mining equipment market

What products or solutions are you showcasing at this edition of Bauma CONEXPO INDIA 2024? What is your focus during the exhibition?

At Bauma CONEXPO INDIA 2024, Hyva will showcase a diverse range of products tailored for the infrastructure and construction sectors. Our focus will be on our core products like FC and FE Front-End Cylinders, alongside advanced solutions such as the Digital Tipping Solution (DTS Guide), Moving Floors, Underbody Cylinders, and introduction of EF Front-End Cylinders. These solutions cater to the specific needs of urban construction and infrastructure projects, ensuring operational efficiency, reliability, and scalability. Our goal is to highlight how these innovations can empower businesses in the material handling and transportation sectors, contributing to India’s growing infrastructure landscape.

What are your expectations for participating in Bauma CONEXPO INDIA 2024? How do you plan to engage with visitors and stakeholders at the exhibition? Are there any specific goals or outcomes you are hoping to achieve from this event?

We anticipate that Bauma CONEXPO INDIA 2024 will provide valuable engagement opportunities with industry leaders, customers, fleet owners and other stakeholders. We aim to have interactions with visitors through live demonstrations, product presentations, and in-depth technical discussions, showcasing the practical applications of our products, including Moving Floors, Underbody Cylinders, and FE Front-End Cylinders, and how they can improve material handling and transportation in construction. Our objectives include strengthening existing partnerships, exploring new business opportunities, and positioning Hyva as a trusted partner for the construction and infrastructure sectors. Additionally, we plan to gather insights into market trends that will inform our future product development.

Do you believe the Production-Linked Incentive (PLI) Scheme is effectively enhancing India’s competitiveness in the global construction and mining equipment and allied products market? What specific support or incentives do you think would further accelerate growth in this segment?

The PLI scheme is a positive step toward enhancing India’s competitiveness in the global construction and mining equipment market. By incentivizing local manufacturing and fostering innovation, the scheme creates an environment that supports companies like Hyva India to bring advanced technologies. This positions India as a reliable hub for high-performance, cost-efficient solutions. That said, additional measures could further accelerate growth. Investments in skill development to create a future-ready workforce, improved access to advanced raw materials at globally competitive prices, and continued enhancements to logistics infrastructure would provide critical support to manufacturers. Additionally, streamlined tariffs on components vital for technology integration could strengthen India’s position in global value chains, allowing companies like Hyva India to better serve growing international demands.

How could the PLI scheme provide strategic opportunities for Hyva India?

The PLI scheme presents a strategic opportunity for Hyva India to explore strengthening its local supply chain and improving cost efficiency over time. By reducing reliance on overseas partners or incentivise them to open in India, the scheme allows for faster turnarounds and provide competitive pricing. This will further drive innovation, prompting investments in quality assurance and product advancements in efficiency, safety, and sustainability. Hyva India remains committed to continuously enhancing these features to stay ahead in a competitive market.

Furthermore, the scheme encourages local supplier partnerships, aligning with India’s “Make in India” initiative and contributing to the growth of the construction and mining equipment industry. This, in turn, strengthens Hyva India’s position as a key player in the national manufacturing ecosystem.

How do you believe the PLI scheme will enhance Hyva India’s global competitiveness in the construction and mining equipment market?

The PLI scheme presents Hyva India with significant opportunities to strengthen its role as a key manufacturing hub for the global market by enabling cost-efficient production, enhanced product quality, and increased manufacturing volumes. These improvements ensure a reliable supply of high-quality equipment for Hyva’s global operations. As companies diversify their sourcing strategies, Hyva India’s manufacturing capabilities will play an essential role in meeting the growing global demand for construction and mining equipment, helping us expand our presence across multiple regions while maintaining high international standards.

How do you see the PLI scheme enabling Hyva India to adopt new technologies in the future?

The PLI scheme provides a strong foundation for Hyva India to accelerate advanced technologies, including digitalization and IoT. It incentivizes further development in areas like real-time fleet monitoring, predictive maintenance, and fleet optimization. On top of that, the scheme will support Hyva’s shift toward sustainable solutions, such as electric-powered tipping systems, e-PTOs and hydraulic solutions for electric vehicles, aligning with global sustainability goals. This will allow Hyva India to remain competitive and environmentally responsible while meeting the evolving needs of the construction and mining industries.

What opportunities does the PLI scheme create for your customers in the construction and mining sectors, and how will it shape their future growth?

The PLI scheme enables Hyva India to offer better value to our customers through enhanced product quality, competitive pricing, and localized innovation. Customers benefit from faster response times due to enhanced local manufacturing capabilities, enabling more efficient support for their project, ensuring timely delivery for their projects. Additionally, with the integration of digitalization and IoT in their operations, our solutions help customers improve operational efficiency, reduce maintenance costs, and meet sustainability goals. These advantages empower our customers to execute projects more effectively, ensuring greater profitability and success.

What improvements or policy adjustments would make the PLI scheme more effective for manufacturers in the construction and mining equipment sector?

While the PLI scheme offers significant benefits, several improvements could enhance its impact. Streamlining the compliance process and providing clearer guidelines would reduce complexities for manufacturers. Extending support to local suppliers of critical raw materials, such as steel and specialized components, would strengthen supply chain resilience and reduce reliance on imports. Moreover, promoting skill development initiatives aligned with advanced manufacturing technologies would ensure that India’s workforce is equipped to leverage the innovations encouraged by the PLI scheme, unlocking further potential for the sector.