Over the years, the Indian electrical equipment industry has developed a diversified, mature and strong manufacturing base, with robust supply chain, and a rugged performance design of products. There is also an emerging global reputation of Indian electrical equipment for sourcing of base products and components and also of Indian transmission and other EPC contractors.
With the electricity sector being a sunrise sector across the entire developing world, there exists significant potential for India to tap the export markets. India should target a 5 per cent share of global trade in electrical equipment in the next ten years so that our exports reach a level of $25 billion.
The government of India has identified the power sector as a key sector of focus to promote sustained industrial growth. The Indian power sector has an investment potential of Rs.15 trillion ($237 billion) in the next 4–5 years, thereby providing immense opportunities in power generation, distribution, transmission, and equipment.
By 2022, the installed power capacity in India is expected to reach 350 GW, on the back of increasing industrialisation and economic development. The total market size of electrical machinery in India is anticipated to reach $100 billion by 2022 from $42 billion in 2017.
[Shreegopal Kabra in an exclusive interview with T&D India]
