Industry News

Government to Finalize Draft Pertaining to Cross-Border Electricity Trade Policy

India: The government of India has taken the lead to finalize the draft cross-border electricity trade policy which is expected to enable Indian developers a single window clearance process for trade of electricity between South Asian Association for Regional Cooperation (SAARC) nations. As per the policy, the countries will set up enabling power transmission network within their borders, while the common infrastructure will be set up in joint ventures. India has also taken the initiative in integrating the electricity grids of countries in South Asia. The trade of power between the countries will lead to growth in power sector of the region.

TechSci Research depicts that the Indian government has taken initiatives such as Deen Dayal Upadhyaya Gram Jyoti Yojna and cross-border electricity trade policy for ensuring 24/7 power supply in India which has spurred significant investments in the country’s power sector. Notable technological upgrades are underway to reinforce the country’s transmission and distribution network, which would continue to drive the demand for power and distribution transformers in India. The development of power transmission and distribution infrastructure will promulgate the market for power and distribution transformers in the region.

According to a recent released report of TechSci Research, “India Power & 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. Power transformers contribute to a major portion in overall market revenues due to their higher price points. Under the 12th five-year plan (2012-2017), Indian government allocated USD200 billion for strengthening the country’s power generation, transmission and distribution sector. 

Relevant Reports

Smart Home Energy Management Device Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (Hardware, Software, Services), By Communication Technology (ZigBee, Home Plug, Z-Wave, Wi-Fi), By Region, By Competition,

ICT | May, 2024

Global Smart Home Energy Management Device Market is rising due to increasing awareness about energy conservation, growing adoption of smart home technologies, and the need for efficient energy management solutions to reduce electricity consumption and lower carbon emissions in the forecast period 2025-2029F.

Relevant News