People at bottom of pyramid real movers of economy: Bommai

Industry should focus on automation, adoption of advanced tech, usage of alternate fuels: V.K. Singh

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.’‘

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.

“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.’‘