The Indian Electrical and Electronics Manufacturers Association expects a 4 to 5 per cent growth this financial year over $ 25 billion logged in 2014-15, a year in which the sector witnessed a negative growth.
The apex association, which represents more than 800 manufacturers in the electrical, industrial electronics and power related sectors, sees this growth being backed by increase in demand and projected to accelerate over the next few years.
Aaditya Dhoot, Organising Committee Chairman of Elecrama, told Business Line that the growth could have been much higher but for the cheaper imports flooding the Indian market from China. Expressing concern about such imports, he said buyers need to realise they need to spend more to maintain them.
Elecrama, a flagship event of IEEMA is being hosted since 1990 and its 12{+t}{+h} edition is being hosted at Bangalore during February 13-17, where a concurrent meeting World Electricity Forum would be held offering an opportunity to interact with some of the global leaders in the sector.
The event is expected to see participation of more than 1,000 delegates, which includes representatives from over 100 countries, apart from over one lakh visitors. Significantly, more than 600 buyers are expected to converge at the event and a lot of business is likely to be concluded, Dhoot explained.
Dhoot said that a 10-year perspective plan has been charted out which aims to take the industry business size past the $ 100 billion mark by the year 2022. With the Centre seeking to push the make in India initiative, this has potential to further accelerate.
Sunil Mishra, Director General of IEEMA, said, “India is at the cusp of a major leap in her economic growth. It is essential that we overcome the challenges in power sector too. IEEMA can help in mitigating losses and bringing in technological innovations.”
Highlighting the importance of strengthening the transmission and distribution network in the power sector, Dhoot said it is estimated that the losses in the power sector transmission are estimated to be over Rs. 70,000 crore and closer to Rs. 1 lakh crore per annum. By addressing the losses, the amount thus saved could be redeployed into the transmission system, he said.
Union Power Minister Piyush Goyal and several other cabinet ministers are expected to take part in the event supported ministries of power, heavy Industries, external affairs and commerce.
Article Credit:- Hindu Business Line.
To get the complete list of ELECRAMA Exhibitors:-
http://www.ex.elecrama.com/exhibitorsList.aspx
