Focus on product innovation

BANGALORE: Underlining the importance of product innovation, Principal Secretary, Public Works Department (PWD) Subhash Chandra Khuntia said this is the key to environmental concerns in infrastructure. Speaking at EXCON 2011 being held at the Bangalore International Exhibition Centre (BIEC), he asserted, “Product innovation in the earthmoving and construction equipment industry is the key to address the growing energy efficiency and environmental concerns around infrastructure projects in India.” Stating that the industry requirements here (India) are ‘unique and diverse’, he observed that Indian customers are looking for more versatile and cost-effective products. He said that Karnataka is planning to develop 15,000 km of State highways in the next two years.  He stated that State government is pooling resources to fund the road projects.  Loans have been obtained from World Bank and Asian Development Bank (ADB) and floated Karnataka Road Development Corporation (KRDC) to focus on creating innovative methods of financing, he noted.  Vipin Sondhi, Chairman, EXCON 2011, said changes in land acquisition norms, special attention to speed up infrastructure projects of national importance, better dispute resolution mechanism and skill development are some of the imperatives of the construction equipment industry.Quoting industry sources, Sondhi said that if India gets the equation correct in infrastructure, it can reap several social and economic benefits such as an increase in per capita income by about US$ 150, creation of 30-35 million additional jobs, reduction in unemployment rate by 5-6% and lifting of about 3-4% of people from poverty line, over the next ten years.