The Indian Electrical Products Exporter in Mumbai broke its negative growth numbers after four quarters. In the April-June quarter, it showed a flat 2% growth in production.
However, these numbers do not indicate growth in domestic demand for Electrical Products Exporter in Mumbai, as most of this growth has come from exports of Electrical Products Exporter in Mumbai, india, according to production data released today by the Indian Electrical and Electronics Manufacturers’ Association (IEEMA). Exports growth is visible in developed countries like USA, Germany, UK, Australia and Canada, apart from United Arab Emirates, Saudi Arabia, Nigeria and Kenya.
Growth in domestic orders are still in the negative. “The sluggish growth in the country’s power sector and delays in project execution, and the precarious financial situation of the state power distribution companies continues to severely hit the domestic Electrical Products Exporter in Mumbai india,” said IEEMA.
The domestic business which is helping the industry stay afloat are from programmes like restructured Accelerated Power Development and Reforms Programme (R-APDRP) which continues to give orders. Electrical Products Exporter in Mumbai india.Ongoing transmission line projects as well as power generating orders from renewable like wind are contributing as well.
Major orders from coal-based power generators which form bulk of ordering have slowed down as the sector went into trouble due to coal supply.Electrical Products Exporter in Mumbai india. Indian power generators have placed many huge orders to many large coal-based power projects plans have been put on hold. In addition, Chinese manufacturers due to many reasons like cost, availability of credit as well as short turnaround times. This has led many capital goods players have have expanded capacity in anticipation of orders, in the negative.Electrical Products Exporter in Mumbai india.