Electrical equipment sector in India expects 12% growth annually
POWER & RENEWABLE ENERGY

Electrical equipment sector in India expects 12% growth annually

The electrical equipment market is anticipated to grow at an annual rate of 12% to reach $72 billion by 2025.

Indian Electrical and Electronics Manufacturers’ Association (IEEMA) president Anil Saboo said that at present, the total value of India’s electrical equipment market stands in the range of $48-50 billion.

The market is at $48-50 billion, and shall increase at a compound annual growth rate (CAGR) of 11-12%. So, by 2025 it shall be nearly USD 72 billion, he told the media.

At present, the value of the exports from India will increase to $13 billion, from $8.62 billion, he said, adding the world now sees India as an option to China.

The local electrical equipment industry will play a significant role in meeting India’s renewable energy targets and the overall carbon reduction objectives under the Paris agreement, Mr. Saboo said.

India has set a target of having 175 GW renewable energy capacity by 2022, 450 GW by 2030.

He said that the increasing renewable energy capacity would require new age equipment, and local players see towards meeting the requirement locally.

The industry can perform an important role in satisfying these targets, with the grown equipment manufacturing, he added.

The IEEMA President said that the industry requests the government to promote the electrical equipment manufacturers sector to reach energy efficiency and climate change targets by presenting vital incentives for exports as well as funds for research and development in the sector.

He said that the industry is bullish, and it will earn an $18 billion investment per year to reach the 450 GW of renewable energy target by 2030.

Image Source

The electrical equipment market is anticipated to grow at an annual rate of 12% to reach $72 billion by 2025. Indian Electrical and Electronics Manufacturers’ Association (IEEMA) president Anil Saboo said that at present, the total value of India’s electrical equipment market stands in the range of $48-50 billion. The market is at $48-50 billion, and shall increase at a compound annual growth rate (CAGR) of 11-12%. So, by 2025 it shall be nearly USD 72 billion, he told the media. At present, the value of the exports from India will increase to $13 billion, from $8.62 billion, he said, adding the world now sees India as an option to China. The local electrical equipment industry will play a significant role in meeting India’s renewable energy targets and the overall carbon reduction objectives under the Paris agreement, Mr. Saboo said. India has set a target of having 175 GW renewable energy capacity by 2022, 450 GW by 2030. He said that the increasing renewable energy capacity would require new age equipment, and local players see towards meeting the requirement locally. The industry can perform an important role in satisfying these targets, with the grown equipment manufacturing, he added. The IEEMA President said that the industry requests the government to promote the electrical equipment manufacturers sector to reach energy efficiency and climate change targets by presenting vital incentives for exports as well as funds for research and development in the sector. He said that the industry is bullish, and it will earn an $18 billion investment per year to reach the 450 GW of renewable energy target by 2030. Image Source

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?