Bengaluru, Dec 12 : Minister for Road Transport and Highways Nitin Gadkari on Tuesday said that the construction sector in India currently ranks third largest in the world. 'By fostering collaborative endeavors we have the potential to propel it to the top spot within the next five years,' the minister said. He was delivering his inaugural address at the 12th edition of CII EXCON 2023, South Asia's largest construction equipment trade fair organised by the Confederation of Indian Industry (CII) in Bengaluru on Tuesday. Gadkari said that the construction sector will have a significant contribution to the Prime Minister's vision to make India a carbon neutral economy. 'To achieve this goal, the government is embarking on major infrastructure and industrial projects that implement sustainable fuels,' he said. He said that the construction and mining operations consume 400 crore liters of diesel, which is quite detrimental to the environment and the economy. 'By embracing alternative fuels such as ethanol, methanol, and hydrogen, the construction and mining sectors can effectively reduce emissions,' he said. He said that the precast concrete emerges as a commendable substitute for traditional concrete. 'We advocate for industry collaboration to bolster the capabilities of construction through the use of sustainable materials and alternative fuels,' he said. Chandrajit Banerjee, Director General, Confederation of Indian Industry, in the inaugural session said that currently, India's construction equipment industry is exporting to over 140 countries. He said that to enhance sustainability and efficiency, private players in the construction sector should focus on automation, the adoption of advanced technologies, global best practices, the use of alternative fuels, and innovations in utilizing waste materials as raw materials for construction projects. South Asia's Largest Construction Equipment Trade Fair (CII EXCON) held at the Bangalore International Exhibition Centre (BIEC) in Bengaluru. EXCON will have a participation of over 1,000 exhibitors including 100 from overseas. Overseas countries participating include Austria, China, Czech Republic, France, Germany, Italy, Romania, Russia, South Korea, Spain, Sri Lanka, Turkey, United Arab Emirates, the UK and the US. Besides, there will be 5 Country Pavilions from France, Germany, Italy, Turkey and the UK. The 5-day exhibition would attract over 80,000 business visitors from all over the world. Karnataka is the host state for EXCON 2023. Union Ministry of Road Transport and Highways, the Union Ministry of Heavy Industries, and the National Highways Authority of India (NHAI) are supporting partners to the event. /IANS