<p>"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.<br /><br />Sundaresan is attending the India Show held in the country during 14-16 January.<br />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.<br /><br />But now the time has come for these companies to expand their markets beyond the Indian subcontinent.<br /><br />"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.<br /><br />Their next phase of expansion would be Australia and New Zealand. "We have started exporting India-made equipments to these markets," said Sundaresan.<br /><br />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.<br /><br />"This is a cost advantage for us," said Sundaresan, who is also the managing director of construction equipment manufacturer Schwing Stetter India Pvt Ltd.</p>
<p>"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.<br /><br />Sundaresan is attending the India Show held in the country during 14-16 January.<br />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.<br /><br />But now the time has come for these companies to expand their markets beyond the Indian subcontinent.<br /><br />"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.<br /><br />Their next phase of expansion would be Australia and New Zealand. "We have started exporting India-made equipments to these markets," said Sundaresan.<br /><br />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.<br /><br />"This is a cost advantage for us," said Sundaresan, who is also the managing director of construction equipment manufacturer Schwing Stetter India Pvt Ltd.</p>