Australian cos betting big on mining equipment biz in India

A group of Australian mining equipment manufacturing companies are betting big on the Indian market and are ready to forge alliances with local companies.
Leading a delegation of Mining Equipment Technology and Services (METS) companies, Paul Johnson said India is quite high in the pecking order in terms of market.
He said although there were several issues like environment which had a direct bearing on the fortunes of the METS industry, the Indian market looks promising in the years to come.
"This is the right time to explore the Indian market as mining operations generally take long time," Johnson told reporters here today.

He said fruitful talks took place with companies and groups like Adani, Coal India, NMDC, Hindustan Zinc, Hindustan Copper, Coal India and Singareni Collieries, among others.
Already, 40 such Australian companies have either set up bases in India or are exporting equipment here, he added.