Energetica India Magazine: september 2020

42 energetica INDIA- September_2020 ‘Make in India’ for PV Junction Boxes and Cables China and India are the biggest manufacturer of junction boxes, with China alone accounting for over 50% of the total production. With technological progress continual innovations, India electrical equipment manufacturers are now coming out with a range of solutions for every need of the sector and steadily gaining more and more market share. India has witnessed numerous devel- opments to strengthen the manufactur- ing sector in the recent years. Over the years, several steps were initiated to simplify the ease of doing business and making policies that will spur domestic manufacturing. Government initiative ‘Make in India’ for electrical manufac- turing sector has been successful to an extent, but more needs to be accom- plished to be completely become ‘At- manirbhar India’. The electrical manufacturing industry is broadly categorized into two categories, one is the power generation equipments and the second is the transmission dis- tribution and allied equipments. India has fairly achieved robust growth in manufacturing and technology in both the categories, but we are still importing more value wise than we are exporting. According to IEEMA, India exported INR 41,792 crores (approx. 6.5 USD Billion) worth of electrical equipment whereas its import stood at INR 55,603 crores (approx. US$ 8.6 Billion) in the year 2017-18. This is a great indicator that In- dian manufacturers have a huge oppor- tunity that needs to be exploited. One area where we have considerably strengthened our foothold from a do- mestic manufacturing and technology side is solar PV eco-system, with the government’s focus on developing the solar energy sector and making it the backbone of the power production, the sector has grown leaps and bounds. Domestic manufacturing for this seg- ment is quickly catching up with the re- quirements of the segment. In this entire solar power ecosystem, junction boxes play an important role. Out of the many solar PV integrands, the most demanded for and utilized compo- nent in the solar industry is Junction Box- es. The total estimation of the demand for junction boxes globally is around 112 million, out of which India is supposed to account for more than 5 million. The worldwide market for PV Junction Box is expected to grow at a CAGR of 7.5% and reach 1430 million USD in 2024. China and India are the biggest man- ufacturer of junction boxes, with China alone accounting for over 50% of the total production. With technological progress continual innovations, India electrical equipment manufacturers are now coming out with a range of solutions for every need of the sector and steadily gaining more and more market share. Similarly, if we look at the wire and cable sector in India, the market size is grow- ing at a CAGR of 15 per cent primarily due to growth witnessed in the entire power and infrastructure sectors. The wire and cable market in India alone comprises nearly 40 per cent of the electrical industry. In the recent years, the government schemes like Ujwal Dis- com Assurance Yojana (UDAY), Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated Power Devel- opment Scheme (IPDS) and Pradhan Mantri Sahaj Bijli Har Ghar Yojana have given a major boost to the wire and ca- ble market. Further, Initiatives like Smart City, Railway electrification, rural electri - fication, electric vehicles, etc will have a cascading positive effect and boost the segment in the coming years. As with the PV junction boxes, the wire and cable segment is also witnessing Mr. Gautam Seth Joint Managing Director at HPL Electric & Power Ltd POWER SECTOR