Advantage India
Robust
Demand
*The electrical equipment market share in India is expected to increase from US$ 52.98 billion in 2022 to US$ 125 billion by 2027, implying a robust CAGR of 11.68%.
*Market size for the Indian Construction Equipment Market stood at US$ 7.2 billion in FY23 and is forecasted to grow at a CAGR of 15% for next 5 years, as per the estimates of CII.
Attractive
Opportunities
*In Union Budget 2024-25, Government has committed an outlay of Rs. 11.11 lakh crore (US$ 133.5 billion) during this year towards infrastructure capital expenditure.
*Ministry of Road Transport & Highways aims for 13,814 km of national highway construction in FY 2024 and a network to 2 lakh km by 2025.
*An Urban Infrastructure Development Fund (UIDF) will be managed by National Housing Bank, which will enable creation of infrastructure in Tier 2 and 3 cities by supporting viability gap funding, enabling creation of more bankable projects, enhancing access to external funding, among others.
Policy
support
*De-licensed engineering sector; 100% FDI permitted.
*Ministry of Heavy Industries has notified the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II for providing assistance to Common Technology Development and Services Infrastructure. The scheme has a financial outlay of Rs. 1207 crores (US$ 145.1 million) with budgetary support of Rs. 975 crore (US$ 117.2 miilion) and industry contribution of Rs.232 crore (US$ 27.9 million).
*Indian Electrical Equipment Industry Mission Plan (2012-22), aims to make India as a preferred destination for production of electrical equipment to achieve an output of US$ 100 billion by balancing the trade deficit in the sector.
*In October 2022, NSIC Signs MoU with Phillips Machine Tools India Pvt. Ltd. for Skill Development Training in Additive Technologies which is the future of manufacturing.
Higher
Investments
*To enhance opportunities for private investment in infrastructure - Infrastructure Finance Secretariat is being established who will assist all stakeholders for more private investment in infrastructure, including railways, roads, urban infrastructure, and power.
*The Government’s ‘Vision Plan 2030’ proposed an action plan to become a manufacturing and export hub for construction equipment and propel the development of world-class infrastructure in the country.
Larsen and Toubro (L&T)
Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing, and financial services conglomerate, with global operations. L&T addresses critical needs in key sectors - hydrocarbon, infrastructure, power, process industries and defence - for customers in over 30 countries around the world.
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Bharat Heavy Electricals Limited (BHEL)
Established in 1964, Bharat Heavy Electricals Limited (BHEL) is the largest engineering and manufacturing enterprise in India in the energy and infrastructure sector with the capability to manufacture the entire range of power plant equipment. The company caters to core sectors like power generation, transmission, industry, transportation, renewable energy, oil & gas, water, defence and aerospace and e-mobility and energy storage solutions and has references in 83 countries across the globe. BHEL’s mammoth size of operations is evident from its widespread network of 16 manufacturing units, two repair units, four regional offices, eight service centres, one subsidiary, three overseas offices, five joint ventures, 15 regional marketing centres and more than 150 project sites across India and abroad.
Read MoreHavells
Havells India Limited is a leading Fast-Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global presence. The company enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, Luminaires for Domestic, Commercial and Industrial Applications.
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