Elec equip ind to touch $100 bn
The Indian electrical equipment industry is expected to tough $100 billion (Rs 550,000 crore) by the year 2022 and his Department will work jointly with the Indian Electrical & Electronics Manufacturers Association (IEEMA) to make this happen, according to Ambuj Sharma IAS, Joint Secretary, Department of Heavy Industry, Ministry of Heavy Industries & Public Enterprises, Government of India. Sharma was speaking at the 65th Annual Convention of IEEMA, the theme of ?Mission Plan 2022: Time to go global. The theme ?Time to Go Global? comes at a time when the Indian Electrical and Equipment industry is facing dual whammy: slowing domestic sales leading to 33 per cent over capacity and cheaper imports from China and Korea.