Millennium Post

Electrical equipment industry to get ten-year mission plan by year end

Electrical equipment industry to get ten-year mission plan by year end
The Mission Plan 2012-22 for the electrical equipment industry is likely to be finalised by the end of the year, a senior government official said on Friday.

 ‘The plan, which aims at making the country the choice for production of electrical equipment and reach an output of USD100 billion by balancing exports and imports, is expected to be finanlised by the end of the year,' Heavy Industries joint secretary Ambuj Sharma said at an Ieema event.

The department of heavy industries along the Indian Electrical Electronics Manaufacturers Association [IEEMA] have formulated the draft Vision 2022 document, which aims at enhancing the competitiveness of the domestic industry as well as increase share in export markets.

The plan also aims at converting latent demand for electrical equipments into real demand by improving fund availability to power sector, providing fuel linkages and faster regulatory clearance for timely power projects set ups and accelerating renovation and modernisation activities, among others.

'There is a need to take measures to expedite clearance procedures by brining about certain amendments in policies including environment clearance, fuel supply, etc.,' he said.

To give a fillip to the equipment sector, the industry needs to invest significantly in technology upgradation, he said.
PTI

PTI

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