The electrical and industrial electronics industry has witnessed a 13 per cent growth in Q4 (January to March) of FY15 while the fiscal year closed with a growth of 10 per cent. These figures were released by Indian Electrical & Electronics Manufacturers’ Association (IEEMA), the industry association of manufacturers of electrical, industrial electronics and allied equipment. The production and sales data is collected from its member organisations, which represent 90 percent of the entire sector.
The major drivers in this growth were cables & conductors, LV and HV switchgear, while power transformers and LT motors continued to show declining trend. Rotating machines (motors) continued to show negative growth on the back of huge rise imports of about Rs.2,000 crore and even capacitors have shown decline in demand. Demand from power generation, substation completions, infrastructure and realty sectors coupled with exports was helping the industry to remain competitive, a release from IEEMA noted.
Sunil Misra, Director General, IEEMA noted, “The country has added the best generation growth in two decades with output touching trillion unit mark but there are no takers for all the generation capacity that is in place as they have no money to pay for the power due to the health of the discoms.”
Vishnu Agarwal, President, IEEMA expressed that the organization as a partner to the national ‘Make in India’ campaign has identified a four point agenda and has been vigorously pursuing with the policy makers, so as to positively impact made in India products with state-of-the-art technology.”
