Karnataka

People at bottom of pyramid real movers of economy: Bommai

Chief Minister Basavaraj Bommai, and General V.K. Singh, Minister of State for Road Transport & Highways, Government of India, at the inauguration of the 11th edition of CII EXCON - 2022, South Asia’s largest construction equipment trade fair organised by the Confederation of Indian Industry (CII), at Bengaluru International Exhibition Centre (BIEC), on Tumakuru Road, Bengaluru, on May 17, 2022.

Chief Minister Basavaraj Bommai, and General V.K. Singh, Minister of State for Road Transport & Highways, Government of India, at the inauguration of the 11th edition of CII EXCON - 2022, South Asia’s largest construction equipment trade fair organised by the Confederation of Indian Industry (CII), at Bengaluru International Exhibition Centre (BIEC), on Tumakuru Road, Bengaluru, on May 17, 2022. | Photo Credit: Special Arrangement

The inclusion of people at the bottom of the pyramid is critical since they are the real movers of the economy, said Basavaraj Bommai, Chief Minister, Karnataka.

Inaugurating EXCON, South Asia’s largest construction equipment (CE) trade fair organised by the Confederation of Indian Industry (CII) here on Tuesday, the CM said, “Though our major focus should be growing exponentially in the country by advancing our technologies, the inclusion of people at the bottom of the pyramid is also critical since they are the movers of the economy.’‘

He urged global captains of the CE sector gathered at the event to collaborate with communities at the bottom of the pyramid to further the growth of the CE sector in particular and economy in general. The CE sector was expected to contribute greatly towards the country reaching its ambitious target of $5 trillion economy by 2025, the CM said. “The infrastructure sector is receiving an intense push from the government, propelling India’s overall development and GDP. The policies announced by the Union government will ensure a time-bound creation of world-class infrastructure in the country.’‘

Business opportunities

Mr. Bommai said his State offered huge business opportunities for the construction industry, as it was embarking on major infrastructure development projects in roads, flyover, industrial infrastructure and power, even as the Union government has committed ₹100 lakh crore for major infrastructure and industrial projects in the next five years.

Speaking at EXCON, V.K. Singh, Union Minister of State for Road Transport & Highways, said, India was an emerging hub for construction equipment, component outsourcing base and design base.

Alternative energy

“The private players in the construction industry must concentrate on automation, adoption of advanced technologies and global best practices, usage of alternate fuels, and innovations in using waste materials as raw materials for their construction projects to diminish the cost of construction and rate of pollution,’‘ he added.

According to Mr. Singh, infrastructure must be sustainable and the industry should take measures to enhance the quality at an affordable life cycle cost. “We are working hard on hydrogen fuel technology and solar energy since we consider it as the future of the country. The CE industry must be prepared for the competitive market situation and focus on Industry 4.0 for revamping itself,” he urged.’‘

Participating in the event, Deepak Shetty, Chairman of CII EXCON, said, “India must become less dependent on imports to build large scale infrastructure projects, roads and ports. Developing and embracing technologies is crucial for us to become an export hub globally. We will be able to fast-track if we identify new growth drivers, understand the significance of rural economy and curate a roadmap for alternate fuels.’‘

Women in the CE sector were recognised and were presented Women Building India Awards. Women champions from Cummins India, Volvo CE India, Schwing Stetter India and L&T Constructions & Mining Machinery were recognised for their contributions.

Over 800 exhibitors from India, Belgium, Czech Republic, France, Germany, Italy, South Korea, Spain, Sri Lanka, UAE, UK and US are participating in the five-day EXCON.


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Printable version | Jun 23, 2022 2:11:37 am | https://www.thehindu.com/news/national/karnataka/people-at-bottom-of-pyramid-real-movers-ofeconomy-bommai/article65422474.ece