BEML

Increased demand for rolling stock and track maintenance equipment due to railway expansion.

Potential for strategic joint ventures with global TBM manufacturers (e.g., Herrenknecht) for technology transfer under the new incentive framework.

BEML is a key beneficiary of India's $1.2B construction equipment PLI scheme, which mandates 50% domestic value addition. The company is positioned to manufacture tunnel boring machines domestically, leveraging incentives to improve cost competitiveness against imports.