The government should support manufacturers of electrical and electronics equipment and protect the industry from cheap imports, said Vice President M. Venkaiah Naidu while inaugurating 13th edition of ELECRAMA – the biggest showcase of the world of electricity organised by Indian Electrical and Electronics Manufacturers’ Association (IEEMA) at India Expo Mart in Greater Noida from March 10 to 14.
He adds, “At the same time, industry leaders must embrace digital technologies and come up with futurist solutions to meet India’s growing need for sustainable power.”
Naidu said the industry must align itself with the government’s vision of LPG – liberalisation, privatisation, globalisation – and brace up for global markets.
“With path-breaking economic reforms and annual GDP growth rate of about 7.2 per cent, India is poised to become the third largest economy worldwide in the next 15 years. The electrical, industrial electronics and allied equipment industry must invest in research and development of storage systems so that electricity can reach all households,” he said.
The Vice President appreciated that the industry provides direct employment to five lakh people and indirectly employment to 10 lakh people.
He said that the government plans to put six to seven million vehicles on Indian roads by 2020 to reduce carbon emissions. He also called for innovative solutions to harness solar power for environment protection and sustainable development.
Minister of Commerce and Industry Suresh Prabhu also called for adopting new technologies to improve energy efficiencies. He said, “The Indian electrical and electronics industry has the skills and capacity to even explore global markets.”
The 13th edition of ELECRAMA recorded more than 298,000 footfalls. Over 1,200 exhibitors showcased their products and services at the biggest showcase of electrical and electronics manufacturers.
Organisers said business enquiries of more than 1 billion USD were estimated at the event. “We had a lot of visitors from 120-plus countries who experienced transformational developments taking place in India and globally,” said ELECRAMA Chairman Vijay Karia.
“The country has recorded rapid economic growth in recent years and is fast transitioning from fossil fuels to renewables sources to generate electricity. It is heartening to note that ELECRAMA 2018 emerged as a platform for knowledge-sharing with a strong focus on electric vehicles, Internet of Things (IoT), storage solutions and renewable energy,” he added.