In the last seven years investment of over USD 70 billion has been made in renewable energy in India.
New Delhi, July 11, 2022: ELECRAMA, the largest stand-alone showcase of the Indian Electrical and Allied Electronics Industry is scheduled from 18 to 22 February, 2023 at India Expo Mart, Greater Noida. Organised by IEEMA, ELECRAMA is the flagship of the Indian electrical industry and a platform to connect the world with Indian industry in respect of technology, new trends and innovation for future energy transition. The theme of ELECRAMA 2023 is ‘Reimagine Energy – For Sustainable Future’ and will be heavily based in showcasing innovation and future technologies in many areas including Storage, Green Hydrogen, Fuel Cells, AI, and IoT. This edition will also focus on sustainability through Energy Conservation, Carbon Net Zero, and Smart Consumption.
In the last seven years, investment of over USD 70 billion has been made in renewable energy in India. A quick look at the contribution of the manufacturing sector to the country’s GVA indicates that traditionally the sector contributed 16-17% to the GVA. This has reduced to 14.4% in FY 21 given the Covid pandemic and slump in demand. Further, the Electrical and Allied Electronics industry’s contribution to the manufacturing sector is in the band of 6.5% to 7% and remains almost consistent over the last 5 years. The total equipment exports of the country have grown with a 10-year CAGR of 11.7% and imports have grown with a 10-year CAGR of 2.4%. The contribution of electrical equipment exports to total exports is consistent over the years and is pegged at 2.8 to 3.1% over the years. 2047 will witness enhanced penetration of electricity in allied sectors, pole position of the industry across future technologies and leadership position across the value chain.
2047 Vision & 2030 Mission can be strategically achieved by:
• Strengthening the core – Focus on energy transition, digitalisation and supply chain security
• Enhanced penetration of electricity in allied sectors – Focus on buildings, transport and industry
• Technology innovation and R&D – Investing in world-class manufacturing, and technology leadership across storage and green hydrogen
• Right skilling – Focus on talent up-gradation, retention, and promotion
At the launch of ELECRAMA 2023 – the 15th edition of the world-class exhibition of electrical, industrial electronics, and allied industry in April this year, Shri R K Singh, Hon’ble Minister of Power & New and Renewable Energy, said “We have brought great transformational changes in our industry in the past five years. We are committed to a climate-friendly, aggressively going ahead with our Hon’ble Prime Minister’s belief in ensuring a healthier planet. We aspire to become a five trillion-dollar economy, and we are one of the fastest-growing economies in the World.”
Mr Vipul Ray, President, IEEMA, cited, “The energy transition currently underway is propelling electricity as a dominant form of energy. There is a huge business potential riding on the increasing relevance of EVs, Charging Infra, RE and Green Hydrogen, and Energy Storage. The transition of the transportation sector from the fossil fuel-driven to the clean energy-driven would be a key to the energy goals of the country. The upcoming 15th edition of ELECRAMA 2023 will mainly focus on such opportunities and position India as the fulcrum of futuristic technologies and solutions required for achieving sustainable growth.”
IEEMA is in conversation with France and Germany to be partner countries for this edition of ELECRAMA. A MoU has already been signed with Germany as a Country Partner for World Utility Summit 2023. Significant partnership is expected from the UK, Romania, Portugal, US, South East Asia, Africa and others. The event will witness presence from global majors to small scale manufacturers. It promises immense opportunity for direct trade engagement with buyers and sellers and offers widest choice of product and technology across the spectrum on display with a special focus on EV ecosystem- charging, components, battery storage value system and green hydrogen.
