Electrical industry should aim for exports worth $25bn in next 5 years: Goyal

Greater Noida: Addressing a gathering at Elecrama-2023, an energy exhibition being held in Greater Noida on Tuesday, Union commerce and industry minister Piyush Goyal said the electrical industry in India has already surpassed exports worth $10 billion and has set a target of reaching $25 billion in the next five years

Greater Noida: Addressing a gathering at Elecrama-2023, an energy exhibition being held in Greater Noida on Tuesday, Union commerce and industry minister Piyush Goyal said the electrical industry in India has already surpassed exports worth $10 billion and has set a target of reaching $25 billion in the next five years.

Electrical industry should aim for exports worth $25bn in next 5 years: Goyal

The five-day expo has been organised by the Indian Electrical and Electronics Manufacturers’ Association (IEEMA) and is being held at the India Expo Mart in Greater Noida. The expo has drawn more than 1,000 exhibitors and buyers from over 75 countries under one roof, said organisers.

“When it comes to the Indian electrical industry, we’ve already done exports amounting to $10 billion and aim to reach the $25 billion mark in next five years,” Goyal said, while speaking at an interactive session in the presence of global industry leaders and dignitaries.

The Union minister further said, “The electrical industry makes India proud globally. Time has come for us to make the world our stage. With an acceleration in global efforts towards creating a sustainable future, I recommend the United States and England to exhibit events akin to Elecrama-2023 and contribute more efficiently towards the world’s sustainability needs. We need to show the world that India can be a reliable and trusted partner in all their energy needs. The strength that the industry has demonstrated over the years gives me the confidence that we can achieve our target”.

He added that the Association should facilitate new programs and initiatives in small cities of north-eastern India including the likes of Jabalpur among others.

IEEMA president Rohit Pathak said, “Around 50% of global energy consumption will happen through renewable sources in the next 25 years. Given the country’s preparedness and continuing efforts towards creating a future roadmap for energy transformation, I feel the time has come for India to establish itself as a major hub for global power requirements”.

The expo will end on Wednesday.