The electrical and industrial electronics industry has witnessed a 4.5% growth in Half year of the current year over the same period of previous year. In the 2nd Quarter, industry growth was decelerated to just 1.6% over Q2 of last year. Growth in Q1 was 8.1%. IEEMA came out with these growth figures on the production and sales data collected from its member organizations, which represent 95 percent of the entire electrical equipment installed in India. Salient observations are as under.
- Low Voltage switchgear has registered a good growth of 22% due to revival in growth of Realty, Infrastructure & other manufacturing industries.
- Distribution Transformer (Especially Up to 25 KVA – REC range) & Energy Meters demand is declined by 12% & 10% respectively due to poor off-take from utilities due to delay in finalization of orders under Govt. schemes like DDUGVYJ and IPDS
- Growth in Power Transformer & High voltage Switchgear is due to domestic orders arising from new substation additions especially for above 220 KV
- Marginal growth in LT motors, declining trend for other motors due to Imports & core sector industry capex not taking off
- Cable, TLT register moderate growth; marginal decline in Conductors
- Exports supporting growth of overall industry