Indian Electrical Industry opportunity size attracts global manufacturers for India as a destination to invest and leverage Make in India

Vision 2022 for the Indian Electrical Equipment Industry is to make India the country of choice for the production of electrical equipment and reach an output of US$ 100 billion by balancing exports and imports. The rising aspirations of India and a growing economy are spurring domestic demand as the electrical equipment industry is increasing its preparedness and enhancing its competitiveness to meet the current and future demands of consumers. India is targeting a gross domestic product (GDP) growth rate of 8-9% in the coming years and to facilitate this growth, the power sector needs to be the catalyst, which is already witnessing heavy investments to meet India’s increasing power demand.

The demand for electrical equipment in India is expected to witness a significant expansion on the back of the growth of the power sector. By 2022, domestic demand for generation equipment industry is expected to be between $25 and $30 Bn. For Transmission & Distribution industry, it is estimated to be between $70 Bn and $75 Bn. The government is likely to add around 88.5 GW and 93 GW, respectively, under its 12th and 13th Five Year Plans.