Electrical equipment makers body IEEMA eyes $25 Bn by 2025

With the aim to boost the export of electrical equipment from $7 billion to $25 billion by 2025, the Indian Electrical and Electronic Manufacturers Association (IEEMA) conducts its first ever virtual buyers and seller meet named as e-Connect.

Today, the Indian electrical equipment industry is well-equipped to manufacture components as per International Standards and can be a great substitute for the import materials/components required by the power sector. More and more global players are looking at us for import of various products and equipment. With this framework, the International Business Division of IEEMA conceptualised the idea of e-Connect. This virtual meet will be an opportunity to facilitate B2B meetings on lines of Reverse Buyer-Seller Meet (RBSM).

Harish Agarwal, Chairman, IEEMA International Business Division informed, “In first phase we are targeting 20-plus counties in three months across SAARC, AFRICA, MIDDLE EAST & FAR EAST. These meetings will provide business opportunity for the MSMEs in India. We hope to have more than 250 sellers on board during this first phase and are targeting to establish connect with 1000 stakeholders overseas. We hope to have more than 5,000 meetings out of this connect with an aim to boost the export of electrical equipment from $7 billion to $25 billion by 2025.”

RK Chugh, President, IEEMA opined, “The kind of economic growth that India is aspiring can’t be achieved unless we substantially enhance our global footprints. This COVID situation presented us with a similar window of opportunity. The world, constrained by travel restrictions, was rapidly adapting to connect through virtual platforms. It was felt that first step to go global effectively was to enhance the width and depth of the connect with stakeholders globally covering all relationship areas as buyers, consultants and agents, investors, JV partners for last mile manufacturing or activities such as commissioning, O&M or aftersales service and even partners for technology transfer and It took less than 45 days to transform a brain wave into actual connect namely e-Connect.”

The first phase of this meeting started from August 17, 2020 and would continue till December 2020, covering 20 countries. e-Connect will be a unique opportunity for networking, collaboration and real-time interaction with industries to create business opportunities.