India a major market for Australian mining and construction equipment

Mathers Hydraulics Technology exhibiting at globalExCon Mining & Construction Equipment Conference ”“ Bangalore,India 2019

Sydney, 13 August 2019 ”“India is set to become one of Australia’s most attractive and lucrative markets for innovative mining and construction equipment, according to leading hydraulics technology company, Mathers Hydraulics Technologies (MHT).

MHT will be one of the global leaders exhibiting at this year’s ExCon 2019 ”“ the largest mining and construction equipment conference in South Asia ”“ being held in Bangalore, India this December.

Global OEMs (Original Equipment Manufacturers) and technologists will share latest developments at the conference to improve safety, health and performance.

MHT will be presenting its world leading technologies ”“ the Steel Safe Fluid Power, Engine Starter Motor and Hydraulic Transmission technologies in demonstrations by Managing Director, Norm Mathers and leading consultant, Dr Phillip McCluskey, formerly the Global Head of Research at Caterpillar, together with technology from collaborator, Michael Gust, former Vice President, Eaton Fluid Power.

MHT’s Steel Safe Fluid Power, Engine Starter Motor and Hydraulic Transmission technology is currently being validated and tested for commercial application with Indian hydraulics company, Yukon Indian Ltd.

These technologies will be presented at the ExCon Technical Seminar with working samples being displayed at the presentation.

Mr Mathers said India is the world’s third largest economy, with 7.1% GDP growth.

“There is enormous opportunity for Australian businesses to trade with India in infrastructure and upgrading of construction and mining equipment,” Mr Mathers said.

“To date, Australia’s inflexible trading processes and concentration on mining has precluded trade development to the potential possible. Our trading approach must change course immediately and properly treat India as a respectful future key ally and trading partner.

“Currently, India has poor research by both government and industry but major changes are coming. Forward-looking Indian Prime Minister Modi, is enforcing regulation to reduce noxious diesel emissions by innovative new technology and research where diesel is the vital power source for heavy industry.

Mr Mathers expressed to Prime Minister Scott Morrison, that the Australian government will continue to lose its home-grown technology and thus manufacturing base and all associated jobs, if it chooses not to compete with India, Japan, China, Korea and other key markets in engineering research, yet pay to purchase the machinery to work our mines, roadwork and agricultural areas.

India currently offers businesses a 145% research rebate whereas in Australia, businesses are offered a 45% rebate.

India plans to spend US$455 billion in infrastructure development over the next five years.

Irrigation, dams, roads, ports, rivers, airports, railways and development of ”˜smart cities’ will drive the construction equipment industry.

The Indian construction equipment industry is expected to grow from US$3 billion to US $5 billion by financial year 2024.

“We have been working closely with a number of companies in India and are close to securing commercial contracts.”

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