The event inaugurated by Shri Nitin Gadkari, Hon'ble Minister of Road Transport & Highways and Shipping saw the launch of a Report on Indian Construction Equipment Industry - Vision 2020 prepared by the Indian Construction Equipment Manufacturers’ Association (ICEMA), an affiliated body of Confederation of Indian Industry (CII). The report sets out the current demand and forecast for the industry till 2020 with projected market size for major equipment and predicts the Indian Construction Equipment industry to grow to USD 5 billion by 2019-20 from its current size of USD 2.8 billion.
Like always Srei Equipment Finance Ltd had a big presence at the event. Our theme for the event was ‘Smart’ and ‘Innovation’.
As a tradition, we organized a get-together called ‘Milap’ with all our manufacturer partners on the eve of the inaugural day. Milap celebrates the spirit of partnership and acknowledges the support and contribution of our manufacturer partners in our growth. Milap reflected the ‘smart’ theme right from the innovative personalised-video invitation cards which were sent out to our esteemed guests by Mr. Vyas. Guests were greeted with health band and a smart entry card with program details. The event showcased a cultural dance by a visually-challenged dance troop and a show by well-known mentalist, Mr. Akshay Laxman. The event witnessed participation of more than 100 prominent domestic and foreign dignitaries from the infra equipment fraternity. Our senior management, Mr. Hemant Kanoria and Mr. D.K Vyas thanked the guests for attending the event and reiterated our commitment to a smart and innovative partnership with them.
The 10,000 Sq Ft outdoor stall designed on the smart city theme, depicted contemporary infrastructural opportunities like high speed trains, highways and windmills. It also boasted of advanced 3D augmentation and 3D reality shows for its visitors. There were also Segway hoverboards which piqued the visitors’ interest. Performances by renowned dance troops added to the entertainment quotient. Celebrity tarot card reader, Ms. Sunita Menon, enthralled those who wished to know their destiny. Our group concerns Quippo and Attivo also had a presence. We had more than 3,000 visitors at our stall.
For this edition of EXCON, we had tied up with more than 20 reputed global equipment manufacturers and came up with a lot of exciting schemes for our customers at the event. We organised ‘Smart Auctions’ for our customers at the event which included a unique auction of rentals where we leased out select equipment to our customers at monthly rentals which were decided by bidding. This innovative offering is the first in the industry. We also organised a reverse auction of interest rates.
We were hopeful that this event would lift up the spirit of the infrastructure equipment sector which has gone through a challenging phase in the last 2-3 years and this year EXCON has exceeded our expectation and we believe this will be a growth catalyst for the equipment demand in the near future. Despite the pre-event tropical rains we saw enthusiastic participation from manufacturers and customers alike. The event was abuzz with new product launches from our manufacturer partners.
Srei Equipment Finance Ltd. (SEFL) got business enquiries for more than 2500 equipment during the event and we hope to surpass our expectation of Rs.500 Crores worth of business with our manufacturer partners. Our ‘Smart Auction’ event also saw participation from more than 200 customers. In fact, seeing the enthusiastic response, we are making this a weekly event on an innovatively designed mobile application platform.