An article about " Trends in Infrastructure Growth "

Trends in Infrastructure Growth

Now a days lots of multinational companies are entering into the Indian market, hence forth making the sector highly competitive. In each segment there are a number of players such as ABB, Cummins, Alfa Laval and many more.

Due to constant competition, Indian companies are looking to improve the capabilities so that they are in a position to handle this tough competition. Technology base is being upgraded and the companies are becoming more quality conscious. To keep pace with the global market requirements, the sector has also started to diversify their manufacturing range.

Power utilities, government, industrial majors and retail consumers are included in the user industries of engineering products and services. Thus, industry and the engineering sector's performance are linked which in turn depends on the overall economy. The engineering industry is driven through capacity creation in sectors like infrastructure oil and gas, power, mining, refinery, automotive, steel and consumer durables.

The engineering sector is experiencing growth and prosperity due to the presence of supporting industries providing a suitable environment. IT sector that is well established in India also supports heavy engineering industry in India.

There is a bright and promising future outlook for the engineering sector. Growth in manufacturing has also become favourable due to drivers like development of infrastructure, industrial growth and policy regulations.

Engineering trends has provided newer opportunities for quantum growth, such as outsourcing of engineering services, services such as designing of new products, improvements in product designing manufacturing system and maintenance are increasingly getting outsourced to India.

The sector of Heavy engineering is witnessing upward swing and the figures from the industry support the statement. During 2006-2007, exports of engineering goods in India were valued at US $ 27 billion which represents a 36% growth. In the total exports of the country 14% were accounted by the engineering sector.

Constantly upward and sustained growth has resulted in world class infrastructural developments in India and the Government is also set to offer increased thrust on infrastructure development. This concerted initiative will definitely bring our Nation into the high league, comity of Nations.