Builder hardware industry is linked to the construction equipment industry where the revenue was valued at US$ 6.5 billion in 2020 and construction market is expected to be the third largest globally by 2025: MSME Secretary B B Swain
India is the 17th largest supplier of builder hardware products and is on its way to fulfil the government ambition to become a global manufacturing hub of builder hardware productsBuilder Hardware is another performer making India as one of the top 20 suppliers with a 1.2 percent share in the world builder hardware export pie, said Minister of State of Commerce & Industry Mr Som Parkash.
While addressing the Builder Hardware Expo, organised by EEPC India, virtually today the Minister noted that builder hardware products from India have considerable demand across the continents.
Indian builder hardware product is one of the best performing segments in the Indian engineering goods sector which has been the key driver of merchandise exports from the country.
“Builder hardware industry is linked to the construction equipment industry where the revenue was valued at US$ 6.5 billion in 2020 and the construction market is expected to be the third largest globally by 2025,” said Mr B B Swain, Secretary, Ministry of Micro, Small and Medium Enterprises (MSME).
India is the 17th largest supplier of builder hardware products and is on its way to fulfil the government ambition to become a global manufacturing hub of builder hardware products.
Mr Swain stated that EEPC India with more than 60 per cent of its members representing MSME sector took several initiatives even during pandemic to provide global interaction opportunities to small players in the form of webinars and virtual Expos.
“The Government of India has been proactive to ensure that all the benefits of the MSME schemes reach the intended beneficiaries in time,” said Mr Swain.
EEPC India Chairman Mr Mahesh Desai said that the four-day virtual Expo would provide opportunity to the Indian exhibitors to display an array of over 200 domestic builder hardware products to overseas buyers from nine focus regions and trade blocs.
“The buyers would comprise contractors, builders, building engineers, architects, landscape artists, interior designers, consultants and project management professionals,” he said.
Speaking at the Expo, EEPC India Vice Chairman Mr Arun Kumar Garodia said India belongs to the league of leading builder hardware manufacturing and exporting nations.
“The Government of India has now set a National Mission of merchandise exports to reach US$ 400 billion within this fiscal, US$ 500 billion by FY-24 and US$ 1 trillion by FY-28 by making Indian products the only choice for global buyers,” he said.