The government of India is taking a series of measures to improve India’s position in the World Bank’s ‘Doing Business’ ranking. The process adopted by the government has been inclusive and rigorous, which has resulted in India going up significantly, from 130 to 100, in the Doing Business 2018 ranking. Joining hands with the Government of India in this process, IEEMA themed its Annual Convention as ‘Go Global’. The Convention was inaugurated Dr P V Ramesh, CMD, Rural Electrification Corporation. The convention witnessed the presence of around 200 delegates from the electrical equipment Industry.
Like any evolving country, India too cannot overlook the essential role of the power sector in fueling its overall development. After a sluggish 2017, the Indian power sector revived itself in the year 2018 with 12.8 per cent growth. The implementation of the various reform measures in India has given immense opportunities to the countries of the world to come and invest in India and promote bilateral trade, technology sharing and transfer and also joint membership.
Dr PV Ramesh addressed the gathering stating that, “The power sector demand is rising very rapidly across the globe and as the momentum picks up, the electrical industry needs to be ready with cutting edge technology in order to increase our exports. IEEMA should provide platform to the industry for promoting exports. I think our Indian electrical equipment industry should focus more in R&D, cutting edge technology, quality and export possibilities. The Government of India is committed to the transformation and the future development of the power sector in this country.”
Harish Agarwal, President Elect, IEEMA, said, “India’s power system is the third largest power system in the world, and is complex and challenging. The sector is expected to attract a substantial investment of Rs 11,55,652 crore by 2022 for setting up projects across thermal, hydro, nuclear and renewables segment. Over the years, the Indian electrical equipment industry has developed an expanded, matured and strong manufacturing base with a robust supply chain and rugged performance design of products. The industry has focused on modernisation, automation-enhancement for meeting the international standards and specifications. The electrical components and systems manufactured in India are increasingly achieving the level of quality and performance that is acceptable to both developing as well as developed countries.”