- Capacity creation in sectors such as infrastructure, power, mining, oil and gas, refinery, steel, automotive and consumer durables are driving demand in the engineering sector.
- Nuclear capacity expansion will provide significant business opportunities to the electrical machinery industry.
- Rapid increases in infrastructure investment and industrial production will fuel further growth.
- A comparative advantage in terms of manufacturing costs, market knowledge, technology and creativity.
Reasons to Invest
- Market-oriented reforms, such as the target of âPower for Allâ and plans to add 88.5 GW of capacity by 2017 and 93 GW by 2022.
- Incentives for capacity addition in power generation will increase the demand for electrical machinery.
- Indian manufacturers are becoming more competitive with respect to their product designs, manufacturing and testing facilities.
- A large pool of human resources; advancements in technologies.
- Increasing scope for direct exports to neighbouring countries.
- Investments in research and development in the electrical machinery industry are amongst the largest in Indiaâs corporate sector.