India’s Rs1.30 lakh crore electrical equipment industry has witnessed a 6% growth in the first six months of 2013-14, due to a rise in domestic demand, according to production data released by the Indian Electrical and Electronics Manufacturers’ Association (IEEMA).
After a weak growth in Q1, mainly on account of growth in exports, Q2 has witnessed a growth of 9.8% in the production of the electrical equipment industry due to a welcome rise in domestic demand. This has led to a moderate growth in H1 of FY’13-14 as compared to H1 of FY’12-13.
“The industry needs to build a robust export portfolio so that it can optimally utilise its built-up capacity which is currently under-utilised across all sub-sectors,” said Raj Eswaran, president, IEEMA.