“India is the fastest growing large economy, and that has been possible because of the electricity sector. Without electricity there is no industrialization and the demand for electricity is growing in the country. Hence, there is a huge market for manufacturers in the electricity sector.” - R.K. Singh, Union Minister of Power and New and Renewable Energy
Jan 2024 : A three-day exhibition and conference titled ‘BID 2024’ is being organized by the Indian Electrical and Electronics Manufacturers’ Association (IEEMA) at the Bombay Exhibition Centre at Goregaon, Mumbai. The host for the event is Maharashtra State Electricity Distribution Company Ltd (MSEDCL).
BID 2024 stands for ‘BuildELEC, IntelELECT & DistribuELEC-2024’. Buildelec showcases electrical systems for buildings consisting of H3O, that is, Homes, Hospitals, Hotels and Offices. The Intelelect Conference themed around ‘Transformative Journey - Reliable, Sustainable and Safer Prosumer Ecosystem’ is focused on energy systems integration, resilient prosumer infrastructure, modern infrastructure and DISCOM modernization. Distribuelec showcases Hi-tech electrical equipment used in power distribution encompassing products, technologies and services.
Inaugurating the event, the Union Minister of Power stated that the shares of all power sector companies have gone up. There are no bills pending for gencos (power generation companies), and all the legacy dues have been almost cleared off. He urged the stakeholders of the electricity sector to lead and grow. He further informed that in the last nine years there has been a 65 percent increase in the transmission network. AT&C losses of discoms have gone down from ~27 percent in 2014 to ~15 percent in 2023; will further go down to ~12 percent.
The Union Power Minister also mentioned that more capacity is being installed at a great pace so that more Power Producers and Suppliers (PPS) come forward and the general public get 24x7 electricity supply. Moreover, the availability of power in rural areas has increased from 12 hours in 2015 to 20.6 hours and in urban areas it has increased up to 23.8 hours, he stated.
Mr. Singh also said that more renewable energy manufacturing capacity is being installed. Within a couple of years, the entire value chain of the renewable electricity sector, starting from poly-silicon to photovoltaic modules will be made in India.
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