While  informing about the company's new launches, Singh stated, "JCB has made some new and innovative additions in its product portfolio in the last one year and has transformed into a full range Infrastructure Equipment partner. We launched 10 new products in 2016. In July last year, we introduced three product lines in the Material Handling segment—Telehandlers, Skid Steer Loaders and Super Loaders. With the Indian Material Handling Industry growing, these products were launched with the aim of replicating global best practices in India."

Agreeing to the sentiment, Panda added, "Smart City projects' emphasis on retrofitting, redevelopment and green-field development will require construction equipment manufacturers to develop and deliver a wide range of innovative solutions. At Sany India, we feel that the demand in this sector will not remain limited to equipment that are traditionally needed but will also extend to smart solutions of varying capacities. This is where our R&D focus plays an important role."

Effects of demonetisation
In the midst of emphasis on infrastructure development, demonetisation affected many industries for few months. "While there were some effects of demonetisation, they were temporary and we are witnessing that the growth has returned. We expect this upswing to continue throughout this year as well. We are sure to witness huge demand especially when it comes to our 21 ton long range and 24 ton excavators where we already are the market leaders. Q1 2017 has already exceeded the growth witnessed the same quarter last year," Panda noted.

Adding further on projection for the year Panda concluded with saying, "In 2017, the construction equipment industry is expected to maintain its double digit growth in unit sales. With efforts of the government to bring in more foreign investment in the infrastructure sector, we feel that the best is yet to come for the industry."