India is undergoing an energy transition, and this will present huge opportunities for IEEMA members, according to Alok Kumar, Secretary, Union power ministry.
Alok Kumar was addressing nearly 500 members of the apex trade association on September 29, 2021, on the occasion of IEEMA’s Annual Convention “Reimagining the World of Electricity.”
This decade will witness intensive electrification of the economy; 28 per cent of the total energy demand is expected to be met from electricity, as opposed to 18 per cent today. Growth in generation capacities will double to more than 800 GW with 50 per cent non-fossil fuel-based generation in the next 10 years. This is likely to drive demand for the Indian electrical equipment industry, Alok Kumar observed.
“The country is in midst of an unprecedented energy transition. Driven by economic progress, the country’s growing energy demand is projected to double by 2030. To meet this demand, overall investment in power sector across generation, transmission and distribution is likely to be in the tune of $250 billion over the next decade. And to achieve this target, Indian Electrical Industry is looking at a faster implementation of distribution sector reforms,” says Anil Saboo, President, IEEMA
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IEEMA works closely with the Government to facilitate creation of a conducive environment for the growth of electrical industry by advocating for favourable policies. With the involvement and support from Ministry of Power, IEEMA members will continue to leverage technology for making India a manufacturing hub for global markets.
“We are also focussing to upgrade the facilities of CPRI for testing equipment in the country and for wider global recognition of CPRI’s testing standards,” the power secretary noted.
Recognizing the challenges faced by the Indian electrical industry, Alok Kumar spoke about the Phased Manufacturing Programme (PMP). Addressing the second challenge of delayed payments, Secretary added that the Central Government was working on Reforms programme to focus on restoring the viability of discoms.
He also highlighted the Government of India’s scheme of more than Rs.3 lakh crore for the next five years to augment capacity in smart meters, energy accounting systems, feeder separation, anti-theft technologies and expansion of substation and transmission lines.
Featured photograph, sourced from Transformers & Rectifiers (India) Ltd, is for illustration only.