Electrical equipment market may grow at 12% annually to reach USD 72 billion by 2025
The Hindu
Anil Saboo, IEEMA President, said that the world now looks to India as an alternative to China in the electrical equipment market.
The domestic electrical equipment market is expected to grow at an annual rate of 12% to reach USD 72 billion by 2025, an industry executive said.
At present, the total worth of India’s electrical equipment market stands in the range of USD 48-50 billion, Anil Saboo, the President of the Indian Electrical & Electronics Manufacturers’ Association (IEEMA) said.
“We are at USD 48-50 billion and shall grow at a CAGR of 11 to 12%. So, by 2025 it shall be around USD 72 billion,” he told PTI.
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