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India's MCE industry forecasts 70-80% growth to $25B by 2030, driven by localization and government incentives.
India's mining and construction equipment (MCE) industry is projected to grow by 70-80% over the next 5-7 years, potentially reaching a $25 billion market by 2030.
Increased localization may save nearly $3 billion in foreign exchange annually, enhancing cost competitiveness and export potential.
The industry has seen a 12% annual growth rate, driven by government initiatives like the Production Linked Incentive scheme and shifts in global investment strategies.
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La industria india de MCE pronostica un crecimiento del 70-80% a $25B para 2030, impulsado por la localización y los incentivos gubernamentales.