Electrical equipment industry to grow 4 times to $100 bn in 10 yrs: Business Standard
Tanay Tarany
September 28th, 2012
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The electrical equipment industry in India, which caters to the needs of the power generation, transmission, distribution and energy management sectors, has to grow four times to $ 100 billion over the next decade if its contribution to the country’s economic growth has to be maintained, the government ha said.

The $25 billion industry comprises manufacturers of power transformers, capacitors, cables and rotating machines among other equipment. The industry is currently facing troubled times at  the back of intense competition from cheaper Chinese imports and slowing domestic sales leading to huge over-capacity creation. The electrical equipment sector accounted for 1.46% of India’s Gross Domestic Product (GDP) last fiscal.

 

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