The Indian Electrical Equipment Industry is witnessing a turnaround because of demand from sectors such as power, textiles, and cement. The electrical equipment manufacturing industry provides direct employment to over 3,00,000 persons and indirect employment to over 15,00,000 persons. While exports of electrical equipment stood at US$ 4 billion in 2010-11, the industry expects exports to rise six-fold to touch US$ 25 billion within a decade, according to Indian Electrical Equipment Manufacturers Association (IEEMA).
The Indian Electronics Industry is one of the fastest-growing industries in India, driven by growth in key sectors such as IT, consumer electronics and telecom. A study by the Export-Import Bank of India (Exim Bank) has estimated the size of the electronics industry in India to exceed US$ 150 billion by 2015.
The government plans to create electronics development fund of about Rs 10,000 crore to support R&D, innovation, IPR development, technology transfer of IT and nano electronics. Mr Ravi Shankar Prasad, Telecommunications Minister, said that the electronics manufacturing policy aims to create employment opportunities of US$ 28 million by 2020.
India stands on the verge of a renewable energy revolution. UN’s World Economic and Social Survey 2009 report on climate change pointed out that India is the most developed renewable energy market in South Asia with an annual turnover of about US$ 500 million. The country’s renewable energy power generation capacity now stands at 15,789 megawatts following the government’s efforts to boost the sector.
Talent Challenges Electronics Manufacturing Services There is a vast pool of highly qualified and skilled engineers, which has attracted many multinational companies to set up their R&D centres in the country. The talent pool is primarily concentrated in a few metros, hence relocating them to small towns is difficult. High attrition rate due to the small pool of talent available for both manufacturers and machine sellers is another reason for the shortage of skilled hands
Electrical Equipment Industry
For the switchgear and control gear industry, the skill sets available in the country are relatively less expensive making the industry competitive globally. The sector has become technology intensive, thus raising requirements of tech-savvy talent with the ability to increase productivity, using technology.