Huge Market for Manufacturers of Electricity Sector in India: R.K. Singh
GG News Bureau
Mumbai, 17th Jan. The Indian Electrical and Electronics Manufacturers’ Association (IEEMA) organized a three-day exhibition and conference called BID 2024, which stands for BuildELEC, IntelELECT, and DistribuELEC-2024. The event was inaugurated by Union Power and New and Renewable Energy Minister R.K. Singh at the Bombay Exhibition Centre in Mumbai.
During the event, Minister Singh emphasized the importance of the electricity sector in India’s economic growth. He stated that without electricity, there can be no industrialization, and the demand for electricity in the country is increasing. This creates a significant market for manufacturers in the electricity sector.
Minister Singh also highlighted the positive performance of power sector companies, with their shares increasing and all pending bills from power generation companies being cleared. He urged stakeholders in the electricity sector to lead and grow, noting that the transmission network has seen a 65% increase in the last nine years.
Regarding distribution companies, Minister Singh mentioned that the losses of distribution companies have decreased from 27% in 2014 to 15% in 2023, with a further decrease expected to 12%. He also mentioned the implementation of smart pre-paid meters for all customers.
The Minister emphasized that distribution licensees have a responsibility to ensure power adequacy and meet the demand in their areas, and defaulters will be penalized. Singh highlighted the increase in power availability in rural and urban areas, with rural areas experiencing an increase from 12 hours in 2015 to 20.6 hours and urban areas experiencing an increase to 23.8 hours.
He also mentioned the installation of more renewable energy manufacturing capacity and the goal of making the entire value chain of the renewable electricity sector in India. Regarding hydel power, Minister Singh urged stakeholders to work on hydel power storage and immersible pumps, as there is a capacity of 40,000 MW Pumped Storage Projects (PSPs) at various stages of clearance.
He also emphasized the importance of manufacturing hydel power components in India. Minister Singh highlighted the growth in peak demand and installed power generation capacity, with peak demand increasing from 136 MW in 2014 to 243 MW in 2023, and installed power generation capacity increasing from 249 GW to 426 GW in the same period.
During the event, Minister Singh presented certificates of appreciation to the top 7 startups from the Electraverse Sparks Competition 2024 and visited the exhibition stalls.
The President of IEEMA, Hamza Arsiwala, and Deputy General of IEEMA, Charu Mathur, were also present.
The DistribuELEC exhibition showcased hi-tech electrical equipment used in power distribution, including transformers, cables, switchgears, meters, and new technologies in distribution automation and control systems.
The Buildelec exhibition showcased electrical systems for buildings, including homes, hospitals, hotels, and offices.
The 6th edition of the Intelect Conference, with the theme “Transformative Journey – Reliable, Sustainable and Safer Prosumer Ecosystem,” will be held concurrently with the DistribuELEC and Buildelec exhibitions.
The conference will focus on energy systems integration, resilient prosumer infrastructure, and new dimensions to modern infrastructure. There will also be panel discussions on advanced technologies for DISCOM modernization and a session on carbon footprint and net zero emissions.
This year, the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) is the host utility for the event. IEEMA, founded in 1948, is the apex association of manufacturers of electrical, industrial electronics, and allied equipment in India. It is the first ISO certified industry association that encompasses the complete value chain in power generation, transmission, and distribution equipment, including new and renewable energy.
