Anushruti Singh
India’s electrical industry is at the cusp of significant transformation, driven by increasing energy demand, government initiatives in clean energy, and the rapid adoption of digitalisation. According to Statista, the electrical equipment industry is projected to reach a value of US$8.6 billion by 2025, growing at 3.45% annually. As the country pushes for sustainability, energy efficiency, and infrastructure modernisation, businesses must embrace emerging trends and overcome key challenges to stay ahead.
In an exclusive interview, Vikram Gandotra, President (Elect) and Chairman, ELECRAMA shares insights on the evolving electrical industry, the impact of policy reforms, and the role of technological advancements in shaping the future of power generation and distribution in India.
ELECRAMA, the flagship event of the Indian Electrical and Electronics Manufacturers’ Association (IEEMA), serves as a critical platform for industry leaders, policymakers, and innovators to collaborate on the future of energy. This year’s ELECRAMA marked the 16th edition of this global event, and happened to be the largest ever, according to Gandotra. “The event witnessed gross exhibition space of 1,10,000 square meters, with around 1,200 exhibitors, including 100 international participants. Over the course of the event, the footfall reached 400,000 visitors and business transactions worth $20 billion,” he says.
Edited Excerpts:
How is India’s electrical industry evolving, and what are your expectations for 2025 and beyond?
The Indian electrical industry is experiencing unprecedented growth. In 2024, the industry was valued at $70 billion, with exports contributing $12 billion. By 2030, we expect this to more than double, reaching a total market size of $150 billion, with exports growing to $25 billion.
Several factors are driving this expansion, including increased electricity consumption, rapid urbanisation, and the government’s ambitious clean energy targets. The sector is witnessing remarkable enthusiasm and growth, particularly due to the rise of new energy sources and evolving electricity consumption patterns—notably in transportation. India’s power consumption is also increasing rapidly, yet its per capita electricity consumption remains one-third of the global average. As economic prosperity rises, electricity consumption will also surge, creating a positive cycle of increased energy access and economic growth. Additionally, emerging sectors such as electric mobility and smart grids are creating new opportunities for industry.
Sustainability is a key theme in today’s energy sector. How is India’s electrical industry integrating green solutions?
Sustainability is at the heart of India’s power sector transformation. The Government of India has set an ambitious goal of 500 GW of electricity from clean sources by 2030. This requires major advancements in grid infrastructure, transmission technologies like HVDC (High Voltage Direct Current) and FACTS (Flexible AC Transmission Systems), STATCOMS, and digitalisation for grid stability.
The country has been rapidly expanding its clean energy capacity, leading to increased demand for new transmission lines and specialised equipment such as HVDC, FACTS, and STATCOMS, which help maintain grid stability.
We are also seeing a push for decentralised energy solutions like rooftop solar, driven by initiatives such as the PM Surya Ghar Yojana. This allows consumers to generate their own power, reduce dependency on traditional energy sources, and even feed excess electricity back into the grid. I mean to imply that this initiative will not only provide cost-effective and clean energy but will also transform consumers into prosumers—allowing them to sell excess energy back to the grid. Such developments are accelerating India’s transition to a clean, self-sustaining energy ecosystem.
However, this transition requires advanced control systems, software solutions, and infrastructure to manage the increasing decentralisation of power generation.
Additionally, the growth of electric vehicles (EVs) is another major trend shaping the industry. The number of EV models available is increasing, and with it, the need for robust charging infrastructure. India is also home to the largest electrified railway network globally, which has significantly reduced dependence on diesel locomotives, making rail transport more sustainable.
What are some of the key challenges that come with this rapid transformation?
With new opportunities come new challenges. In my opinion, the biggest hurdles include:
Grid stability: Renewable energy sources like solar and wind are intermittent, making it difficult to predict power generation. Consumers expect uninterrupted power, regardless of fluctuations in sunlight and wind availability. Advanced forecasting tools and real-time energy management software are critical for ensuring a stable power supply.
To address this variability, the industry is focusing on energy storage solutions such as battery storage and pumped storage systems, which allow excess energy generated during peak production hours to be stored and used when needed.
Energy storage: Large-scale battery storage solutions are essential to balance supply and demand.
Workforce reskilling: With the adoption of new technologies, the industry requires a highly skilled workforce. Skills in automation, software management, energy forecasting, and materials science are increasingly in demand—particularly in the development of next-generation batteries and energy storage systems.
As automation advances, certain jobs may become redundant, making reskilling and upskilling crucial to equip workers with the expertise required for the evolving energy landscape.
Policy and regulation: While India has a vibrant policy framework, continuous updates and refinements are required to keep pace with technological advancements. However, for further policy formation, we have been in conversations with the government. We have discussed the present scenario with the government, and they are aware of the situation. With this, while minor adjustments may be necessary, policymakers have demonstrated agility in implementing reforms that support industry growth.
Women remain underrepresented in the electrical industry. How can this be improved?
Although this sector still has lesser female participation, increasing it in the sector is a priority. Efforts are being made to change this. We are already seeing positive developments, such as fully women-run substations. However, more efforts are needed to encourage women to enter the field. This includes:
- Skill development programmes tailored for women in energy and engineering sector.
- Mentorship and networking opportunities.
- Encouraging leadership roles for women in technical fields.
Our Women in Power initiative at ELECRAMA 2025 is one such step towards making the industry more inclusive.
Start-ups are playing a crucial role in driving innovation in the sector. How is ELECRAMA supporting them?
Recognising the importance of start-ups in driving technological advancements, IEEMA has introduced a dedicated start-up pavilion. This year, we shortlisted 51 start-ups from an initial pool of 250 applicants, providing them with free exhibition space to showcase their solutions.
Also, we are actively supporting these start-ups through mentorship programmes, industry networking, and cash awards for the most promising ventures. Industry leaders are also guiding them on scaling their businesses and navigating investment opportunities.
Finally, what’s next for India’s electrical industry?
The future is very bright. The sector is moving towards a more digital, sustainable, and efficient future. Talking about ELECRAMA, it is not just an exhibition—it’s a launchpad for the future of energy. As renewable energy adoption accelerates, digital grids become mainstream, and electric mobility expands, ELECRAMA provides a platform to foster innovation, drive collaborations, and set industry benchmarks.
Our key focus includes smart grids and AI-driven energy management for better energy distribution; expansion of EV infrastructure and high-speed charging networks; integration of IoT and automation to optimise industrial energy consumption, and more interactive energy markets, where individual consumers can trade surplus electricity. And I ensure that the electrical industry is well-prepared for the challenges and opportunities ahead.
As renewable energy adoption accelerates and digital grids become mainstream, India’s electrical industry is poised for remarkable growth. We must embrace innovation, invest in talent development, and ensure regulatory frameworks support this transformation.
