ICRA: Domestic mining, construction equipment volumes to drop FY25

Rating agency ICRA has said that the volumes of domestic mining and the construction equipment (MCE) industry may drop in the current financial year (FY25) on account of a slowdown in the new project orders amidst Lok Sabha elections and monsoon-related impact on construction activities. ICRA expects FY2025 to see a 12-15 per cent year-on-year decline .