Indian electricals boom

The Indian electrical industry grew by 15% during the third quarter that ended on December 2003.

All sectors except energy meters improved their performance during the third quarter with LT motors clocking a growth of 16.96%, power/control cables (34.76%), distribution transformers (34.08%) and LT capacitors (27.28%), Indian Electrical and Electronics Manufacturers’ Association said.

It said with the present trend of production, order book position and flow of enquiries, the estimated overall annual growth would be about 12% in quantitative terms for the fiscal 2003-04, but the effective profit margins for the industry would not grow beyond 5%.