The electrical and industrial electronics industry grew 4.25 per cent in the last financial year, the Indian Electrical and Electronic Manufacturers’ Association (IEEMA) said.
It said policy changes and various initiatives undertaken by the industry and government are eventually showing signs of revival for the sector.
“The industry exported ` 38,580 crore worth of electrical equipment in 2015-16 (` 35,276 crore April to February in 2016-17). The growth in exports is helping the industry to grow especially in power transformer and high voltage switchgear products, energy meters and cables,” IEEMA said. “Policy changes and various initiatives undertaken by the industry and government are eventually showing signs of revival for the sector.”
The production and sales data is collected from its member organisations, which represent 95 per cent of the entire sector.
Sanjeev Sardana, President, IEEMA, said, “The sluggish demand and higher imports is still hampering the industry growth. There is a high imports visible in HV Switchgear (GIS), Insulators, AC Motors & Generators.”