6% growth for electrical equipment industry in first half of FY14
Indian electrical equipment industry witnessed 6 % growth in the first six months of 2013-14. Indian Electrical and Electronics Manufacturers' Association (IEEMA) attributed the rise to domestic demand.
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Indian electrical equipment industry witnessed 6 % growth in the first six months of 2013-14. Indian Electrical and Electronics Manufacturers’ Association (IEEMA) attributed the rise to domestic demand.
After the weak first quarter due to growth in export, the second quarter has witnessed a growth of 9.8% in the production of the electrical equipment due to rise in domestic demand. This led to a moderate growth in first half of FY13-14 as compared to the corresponding period of the previous fiscal year.
The moderate growth of the electrical equipment industry has also been attributed to some progress in power transmission and substation projects, power generating stations, R-APDRP projects and orders from specific sectors like construction and real estate.
The transformer industry, both power and distribution transformers, has seen a turnaround in growth from -4.5% in the first quarter to 18.76% reported in the second quarter of this fiscal year. Power cables, capacitors, energy meters, transmission line towers, high-voltage switchgear have also seen growth. However, conductors, low-voltage switchgear and rotating machines have further declined in the second quarter of 2013-14.
Although the overall import of the electrical equipment has declined, the import of power transformers, insulators, cables and AC motors and generators has continued to increase.
Source: The Economic Times
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