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Piyush Goyal, Minister of Power, to lead a high-powered delegation in Singapore

India: The Minister of Power, Piyush Goyal, is set to lead the high-powered delegation in Singapore focusing on engaging with the leading energy and technology firms thereby strengthening connection with Singapore’s strong investor community. Singapore, is considered to be the global financial hub for clean technology funds, asset management companies and private equity funds. Therefore, this step would result in improving the overall power transmission and distribution network in India.

TechSci Research depicts that the government has taken up various initiatives including Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) for electrification of rural pockets of India, which has spurred significant investments in the country’s power sector. This would increase the demand for power and distribution transformers in India at a significant level. Under the 12thfive year plan (2012-2017), Indian government allocated US$ 200 billion for strengthening the country’s power generation, transmission and distribution sector. One of the major developments underway includes the country’s shift from 765 KV to 1200 KV power transmission. This, in turn, is fuelling the demand for EHV and UHV class power transformer installations throughout the country.

According to released report of TechSci ResearchIndia Power and Distribution Transformers Market Forecast & Opportunities, 2020”, the power and distribution transformers market in India is projected to grow at a CAGR of over 10% till 2020.  India is focusing on use of alternative energy resources like nuclear and solar energy for power generation, which is expected to further boost transformer deployments in the country in the coming years.

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