"Our members are targeting the Indonesian, Myanmar, Vietnamese and the Philippines markets, where India-made construction and mining equipment have been tried and tested," said Anand Sundaresan, vice chairman for the Chennai zone at the Confederation of Indian Industries.
Sundaresan is attending the India Show held in the country during 14-16 January.
The India-based manufacturers of the heavy-duty equipment include global brands Caterpillar, Schwing, Universal and Greaves Cotton & Co that have been serving the Indian markets for several decades by producing locally.
But now the time has come for these companies to expand their markets beyond the Indian subcontinent.
"A strong foothold has been established with at least a 5% market share gained in the last three years for some of the equipment," he said in a CII press statement.
Their next phase of expansion would be Australia and New Zealand. "We have started exporting India-made equipments to these markets," said Sundaresan.
The Indian equipment are competitively prices, given that their production costs are 30 per cent lower than those made in Europe and the United States.
"This is a cost advantage for us," said Sundaresan, who is also the managing director of construction equipment manufacturer Schwing Stetter India Pvt Ltd.
Published 15 January 2011, 10:30 IST