March 20, 2015: As per a study conducted by industry body IEEMA (Indian Electrical and Electronics Manufacturers Association), the electrical and industrial electronics industry witnessed a growth of 11.47 per cent during October-December 2014 although the sector continued to be plagued by high imports.
“Although high imports, which was nearly over Rs 20 billion in 2014, still plague the industry, policy changes and various initiatives by the industry are eventually showing signs of evolution for the sector,” said IEEMA president Vishnu Agarwal in a statement reported by PTI.
According to IEEMA, cable, low-voltage and high-voltage switchgears were listed in the leading drivers of this sector, though power transformers and low-tension motors are continually showing a declining trend.
“There is a positive momentum in sub transmission and distribution of 66 kv products and below. The growth in turnover of MCB (miniature circuit breaker), energy meters and cables is a good sign,” he said.
As per the apex industry body, conductors and energy meters have recorded an enormous growth in their turnover at 44.9 per cent and 28.2 per cent, respectively.
IEEMA is of the belief that the reason for this development is the acquisition of these commodities by major PSUs and utilities.
Transformer operational meter and single phase multifunctional meters (smart meters) also showed immense growth, as the power industry is opting for smart and energy efficient products. Also, the growth in LV product and FHP motors indicated some industrial activity.
Interestingly, rotating machines continue to show downward growth as there is low awareness about energy efficient motors.
“We still need to watch out for the high rate of imports of EHV transformers, reactors, cables and insulators, which harm domestic production. Indian manufacturers are well equipped and have the capacity to manufacture these products,” said IEEMA director general Sunil Misra.