Heavy Industries: Accelerator of India's Economic Growth

India’s heavy industries are the force behind building the nation, literally and figuratively. Comprising of automotive, heavy engineering equipment heavy electrical equipment and a lot more, the Indian heavy industries sector is touted to be the growth engine powering India’s economic growth.

India as a country envisions building a globally competitive, green & technology-driven heavy industry manufacturing sector which propels growth and job creation. The Ministry for Heavy Industries works towards facilitating auto, heavy electrical & capital goods sectors to be globally competitive, growth oriented and profitable.

As a result of the ministry’s push and hard-work put in my industry players, India's heavy industries, mainly Capital Goods sector experienced steady growth in the past decade or so. Total production increased from INR 2.3 lakh crore in 2014-15 to reach more than INR 4.29 lakh crore in 2023-24. The strongest contributing sectors were infrastructure, steel and equipment like construction machinery. The growth trajectory for the years to come looks strong.

The architects of this growth are visionary leaders who are putting in the thought and hard-work to strengthen India’s manufacturing might. In the current edition of CEO Insights India magazine, we meet a few such leaders.

One of the featured leaders is dynamic leader in the metals industry, Saurabh Chhaparwal, who blends entrepreneurial vision with integrity, global market insight, and strong relationship-building to drive the growth of Vidushi Metals and Alloys.

Another featured leader is Ajay Nair, the Managing Director of Winasia Maritime, a seasoned leader in the global shipping and logistics industry. With decades of experience across chartering, shipbroking, containers, and tank operations, he brings a holistic, customer-first approach to maritime services.