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T20 WC: England thrash West Indies by 6 wickets after bowling them out for 55        Govt intervention needed to boost real estate market in Goa: Rohit Gera        With no Women's Ministry, activists demand that Taliban ensure women's rights        Shah lays roadmap for statehood for Kashmir, reviews security in backof civilian killings        Vessel-Boat collision : ICG rescues two injured fishermen in mid-sea        Vaccine makers played big role in India's success story: PM Modi        Finch backs out-of-form David Warner ahead of SA match        Volvo Car India launches Petrol Mild-Hybrids in Karnataka        With music banned, musicians of Afghanistan stare at bleak and uncertain future        No timeline for theatre commands, General Rawat refutes media reports        Kerala girl wins world handwriting competition        EAM, UK Foreign Secretary hold talks on trade, defence, climate change, Afghanistan        Actress Shruti Haasan launches parcos.com        Scotland bundle out Oman for 122        Arrest warrants against 12 war criminals in Bangladesh        Cabinet hikes DA for central govt employees        CGH Earth plans 10 caravan parks across Kerala        Milma launches ‘Deepavali Gift Box’        Presidents of Maldives, Malawi, Israeli PM, US Secretary of State congratulate India on reaching vaccination milestone        Australia recover to post 152/5 as Kohli emerges as sixth bowling option        
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Business News
Electrical equipment mkt may grow at 12 pc annually to reach USD 72 bn by 2025
 
New Delhi, Sep 19 (PTI) Domestic electrical equipment market is expected to grow at an annual rate of 12 per cent to reach USD 72 billion by 2025, an industry executive said.

At present, total worth of India's electrical equipment market stands in the range of USD 48-50 billion, Anil Saboo, the President of the Indian Electrical & Electronics Manufacturers' Association (IEEMA) said.

"We are at USD 48-50 billion and shall grow at a CAGR of 11 to 12 per cent. So, by 2025 it shall be around USD 72 billion," he told PTI.

Value of the exports from India will grow to USD 13 billion, from USD 8.62 billion at present, he said, adding the world now looks for India as an alternative to China.

Saboo said local electrical equipment industry will play a crucial role in meeting India's renewable energy targets as well as the overall carbon reduction targets under the Paris agreement.

India has set an ambitious target of having 175 GW renewable energy (RE) capacity by 2022, 450 GW by 2030.

Increasing RE capacity will require new age equipment and local players look towards fulfilling the requirement locally, he said.

"With increased manufacturing of equipment, our industry can play a vital role in meeting these targets.

"We request the government to give encouragement to electrical equipment manufacturers sector to achieve energy efficiency and climate change targets by providing necessary incentives for exports as well funds for research and development in the sector," the IEEMA President said.

He further said the industry is bullish that it will be able to garner USD 18 billion investment per year to meet the target of 450 GW of RE by 2030.

IEEMA is the first ISO-certified industry association with more than 800 member organisations encompassing the entire value chain in power generation, transmission and distribution equipment and electronic goods.


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KERALA NEWS
Vessel-Boat collision : ICG rescues two injured fishermen in mid-sea
 Thiruvananthpauram, Indian Coast Guard (ICG) has rescued two fishermen who was injured in a mid-sea  
Kerala girl wins world handwriting competition
CGH Earth plans 10 caravan parks across Kerala
Kerala rains: 39 dead, 3851 families in rehabilitation camps, says CM Pinarayi
INTERNATIONAL NEWS
With no Women's Ministry, activists demand that Taliban ensure women's rights
 Kabul, With the Taliban having disbanded the Women’s Ministry and replaced it with the Ministry of P
With music banned, musicians of Afghanistan stare at bleak and uncertain future
Arrest warrants against 12 war criminals in Bangladesh
IMF Chief Economist Gita Gopinath to leave job and return to Harvard University
NATIONAL NEWS
Shah lays roadmap for statehood for Kashmir, reviews security in backof civilian killings
 Srinagar, Delimitation would be carried out in Jammu and Kashmir, followed by elections and eventual
No timeline for theatre commands, General Rawat refutes media reports
Cabinet hikes DA for central govt employees
Nepalese national raped in Delhi's Amar Colony area
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