What is your opinion about ELECRAMA 2020 exhibition?
ELECRAMA has now turned into a movement, just beyond an exhibition. The 14th edition of ELECRAMA in 2020 will be flagship showcase of the Indian electrical industry ecosystem and the world’s largest confluence of the power transmission and distribution community. We are excited to launch it at this key juncture to boost the Indian economy.
ELECRAMA 2020 will focus on innovation and new technology apart from creating platform for partnership with other countries.
ELECRAMA 2020 will be held during a very crucial economic situation in India. What are your observations?
India is firmly set on a path of economic growth that is estimated to usher in prosperity like never before. This economic prosperity will need to be built on the back of significant transformations across several facilitating elements, the primary ones being infrastructure development, research and development, energy availability, and sustainability.
Government’s ‘Make in India’ program has placed India on the world map as a manufacturing hub and has given global recognition to the Indian economy. India is expected to become the fifth largest manufacturing country in the world by the end of 2020. The government has set an ambitious target of increasing the contribution of manufacturing output to 25 per cent of Gross Domestic Product (GDP) by 2025, from 16 per cent currently. India’s manufacturing sector has the potential to touch USD 1 trillion by 2025. There is potential for the sector to account for 25-30 per cent of the country’s GDP and create up to 90 million domestic jobs by 2025.
What will be the focus points for the electrical and electronics industry in ELECRAMA 2020?
The key theme for ELECRAMA 2020 will be innovation – building new technologies. The focus will be to present the future of energy to India, and showcase India’s strength to engage more deeply with the rest of the world. We will work towards increasing our exports and bring in the best-in-class equipment to be used in the country’s power sector.
ELECRAMA promotes thrust on research and development. This time, we shall add many new segments. Traditionally, it was only about transmission and distribution, sometimes generation. Now, we have expanded the focus of ELECRAMA to new segments like e-transportation, railways, solar, and Nasscom.
We will be focusing on connecting the equipment manufacturers, suppliers, and service providers to the key decision makers and end customers like utilities, EPCs, private power producers and adding our MSME units to global value chains.
What are the milestones of expanding business network through ELECRAMA?
ELECRAMA, organised by IEEMA, brings together the entire electrical industry ecosystem. Being the largest gathering of electrical industry, the show has been widely praised for its all-encompassing approach to include everything that is significant in the industry and matters for its growth. The exhibition provides a strong forum and international platform for knowledge sharing in the form of innovation, technical conclaves and industry summits.
The exhibition offers insights on key factors like latest technology, international network, export, energy storage revolution in business technical collaboration and building partnership through global value chains to the participants.
How you foresee the growth of electrical and energy markets?
The energy and electrical market will continue to grow quite significantly because of new trends and technology in all sectors. The innovations are also taking place in energy transition and the demand will go up for new technology products for replacement of old one.
The expected growth of energy market for developing countries like India, Vietnam, and Indonesia will be more than 12 per cent per year and in developed countries it may vary from 3-5 per cent per annum.
What are the main challenges affecting this market?
For Indian electrical industry, the golden era of growth has begun due to their competitive new prices and young workforce. The main challenge for Indian industries is in getting technological knowledge and upgradation of products to the world-class level. The ELECRAMA is a platform where we are bringing the people from more than 100 countries and providing a platform to Indian electrical Industry to collaborate themselves for new technology and making world class products.
What is your opinion about field of trading and contracting in the electrical world during ELECRAMA 2020?
ELECRAMA 2020 will focus on renewable energy, energy storage, energy solution and digitisation. The Indian economy has reached a GDP of Rs. 167 lac crore in 2017-18, translating to USD 2.3 trillion. A key component of the USD 5 trillion ambitions is the target of USD 1 trillion from manufacturing, requiring the sector to grow 2.5 times in the next 7 years, implying a 12.5 per cent CAGR. The country needs to build further momentum and target at maximising local value add, creating scale, capturing global market share and fulfilling India’s job creation needs. To generate the revenue, we need to adopt new digital technologies for sustainable power solutions and building partnerships for our MSMEs with global network.
R&D activity is a major part of business expansion. How ELECRAMA 2020 will promote this?
True. R&D activity is a major part of business expansion if we invest in R&D and international peer accepts trials that would provide the opportunity for large exports in the field of electrical equipment. I would strongly recommend every industrialist to invest at least 30 per cent of revenue in R&D.
India is poised to become the third largest economy worldwide in the next 15 years. The electrical, industrial electronics and allied equipment industry must invest in research and development of storage systems so that electricity can reach all households.