The electrical machinery industry in India - Teknikföretagen

Table of contentsOverview of the electrical machinery industry in India...................................................... 5A snapshot of the Indian electrical machinery industry...................................................... 5Evolution of the Indian electrical machinery industry......................................................... 7Large manufacturers of electrical machinery in India.......................................................... 7Contribution of the electrical machinery industry to the economy.................................. 11Growth of the electrical machinery industry...................................................................... 12Pattern of development........................................................................................................ 17Size and structure of the heavy electrical machinery segment...................................... 18Turbines and generators....................................................................................................... 19Transformers......................................................................................................................... 20Boilers.................................................................................................................................... 21Switchgear and control gear................................................................................................. 21Size and structure of the light electrical machinery segment........................................ 22Electrical wires and cables.................................................................................................... 22Transmission towers............................................................................................................. 23Cranes.................................................................................................................................... 23Lifts and escalators................................................................................................................ 24Batteries................................................................................................................................. 24Electrical lamps and tubes.................................................................................................... 26International trade................................................................................................................... 27Exports.................................................................................................................................. 27Imports.................................................................................................................................. 28Research and development................................................................................................... 30Future outlook.......................................................................................................................... 32References................................................................................................................................ 33

The country has been suffering due to unreliable power supply and it is estimatedthat India loses 1 per cent of its GDP due to the power problem. 1 Shortage of electricalmachinery for power generation is a major concern and although the largestmanufacturer in India is confident that demand for electrical machinery will be metby the supply of electrical machinery, many industry experts are doubtful.The Government of India (GOI) has set ambitious targets for addition in powergeneration. It has also been encouraging manufacturing of electrical machinerythrough joint ventures with foreign manufacturers. An example of such collaborationis the recent joint venture between Indian electrical machinery manufacturerLarsen & Toubro (L&T) and Mitsubishi Heavy Industries of Japan. 2 Hence, the currentshortage of electrical machinery can in turn be perceived as an opportunity formanufacturers of electrical machinery to setup operations in India.In fact, the electrical machinery industry has been developing with an increasingamount of public – private participation and with an increasing number of foreigncollaborations for technology. 3 The electrical machinery industry accounted for thelargest share of FDI inflows (cumulatively) between August 1991 and April 2007 at19.2 per cent. 4However, India imports a large amount of electrical machinery also. Measures arebeing initiated in this regard as India cannot rely on imports as that leads to loss ofinvestments and employment within the country. So, the industry is expected to seea rise in the manufacture of electrical machinery across segments domestically infuture. This is expected to spur development and growth of the Small and MediumEnterprises (SMEs) in the industry.1) Reference has been made to the National Manufacturing Competitiveness Council (2006)2) This information has been obtained from The Hindu Business Line (1st July 2008)3) This information has been obtained from Ministry of Commerce and Industry (2008)4) National Council for Applied Economic Research (August 2007) has been referred. National Council for AppliedEconomic Research is one of the foremost research think tanks in India6

Evolution of the Indian electrical machinery industryThroughout the 1990s and in recent years, industry experts have been trying to ascertainmethods to achieve and sustain growth across segments in the industry andto help India become a manufacturing hub. The ever increasing demand for powerin India has led to a widening gap between the supply and demand of electricalmachinery to be able to service the planned developmental needs in India.In the past two decades the industry has witnessed large scale consolidation. Theconsolidation has resulted in stronger companies with increased size, economies ofscale, wider product ranges and enhanced financial strength. Companies now havegreater access than before to foreign markets and higher bargaining power as a resultof combined technological strengths through technology transfer from global majors.However, the industry is still highly fragmented with more than 50 per cent of themanufacturers with a turnover of less than Rs. 500 million. This is because there aremany companies in the unorganized sector that manufacture transformers, switchgears,and other products in the lower technology fields. In the organized sector thedomestic manufacturers mainly consist of Public Sector Units (PSUs). 5Large manufacturers of electrical machinery in IndiaThere are a number of well established manufacturers across segments within theelectrical machinery industry ranging from multinational majors to large domesticmanufacturers and small scale manufacturers. The largest companies in the industryform the heavy electrical machinery segment. Since the capital barrier to manufactureheavy electrical machinery is very high, a larger number of the small andunorganized manufacturers form part of the light electrical machinery segment.Further, many Fortune 100 companies are already sourcing and manufacturing electricalmachinery from India. These companies explain that their Indian operationsthough small in size, are already reaching if not exceeding global cost and productivitybenchmarks. 65) Reference has been made to Department of Heavy Industry (2006)6) This information has been obtained from a report prepared by McKinsey & Company. See Luthra et. al.7

Share in production of Indian companiesIndia is the only developing country besides China, which produces the entire rangeof electrical power generation and transmission machinery. Indian companies enjoymajority of the market share in production across most segments in the industry.But a large number of collaborations with foreign manufacturers are taking place inthe industry leading to the growth of several joint venture companies. 7Strength of Indian manufacturers lies in customizing effectivelyAccording to McKinsey & Company, multinational manufacturers should focustheir Indian manufacturing and sourcing plans on custom based products. 8According to Mr. R.N. Misra, Executive Director, Bharat Heavy Electricals Limited,which is one of the largest companies in the electrical machinery industry, China isthe readymade manufacturer whereas India is the tailor. 9Comparison of Indian manufacturers with global leaders on certain parametersIndian manufacturers are yet to reach the kind of competency levels global manufacturershave with regard to technology, delivery and quality parameters. On thecost parameter, common characteristics apply to the Indian electrical machineryindustry when compared with the western companies in the industry. Accordingto a report published by an industry association Indian Electronic and ElectricalManufacturers Association (IEEMA), the Indian electrical machinery industry isweak compared to global manufacturers with respect to automation in production,Research and Development (R&D) expenditure, training and development. 10An example where a global major has manufactured in Indiato be competitive globallyABB, the large multinational company producing custom based electrical machineryis an example. It sources circuit breakers and magnetic actuators from its Indian7) Reference has been made to Ministry of External Affairs (11th April 2008)8) This information has been obtained from a report prepared by McKinsey & Company. See Luthra et. al.9) Reference has been made to The Hindu Business Line (25th June 2008)10) Reference has been made to The Hindu Business Line (31st December 2007). IEEMA is the nodal industryassociation for the electrical machinery manufacturing industry. Largest manufacturers in the industry aremembers of this association.8

plant which was the first of its kind among ABB’s facilities anywhere in the world tomanufacture a particular kind of circuit breaker using only Indian employees. Notonly was ABB able to achieve over 50 per cent in cost savings, but it also managed toreduce the delivery period to two weeks from four weeks. 11Instance of a joint venture by a multinational in IndiaAn example of a large manufacturer wanting a foothold in the growing electricalmachinery industry is Toshiba Corporation of Japan. It has formed a joint venturewith the JSW Group of India to manufacture turbines and generators in India. Thisis going to be Toshiba’s second such manufacturing base in the world.Mr. Atsuhiko Izumi, Executive Vice President of Toshiba Power Systems said, “Bycollaborating with JSW Group, we want to rapidly build up our presence in a fastgrowing market and to contribute to securing a stable electricity supply in India.” 12The Ministry of Power is encouraging international players, including Italy’sAnsaldo, Czech Republic’s Skoda Power and South Korea’s Doosan Heavy Industriesand other such foreign companies to set up manufacturing facilities in India. 13As mentioned earlier, there are a large number of domestic as well as foreign companiesin India. There are a large number of joint venture companies also. Givenbelow, is a table that briefly outlines some of the largest companies in the electricalmachinery industry in India.11) This information has been obtained from a report prepared by McKinsey & Company. See Luthra et. al.12) Reference has been made to The Hindu Business Line (8th May 2008)13) Reference has been made to The Financial Express (23rd October 2007)9

LARGE MANUFACTURERS WITHIN THE INDIAN ELECTRICAL MACHINERY INDUSTRYCompany descriptions and products manufactured are mentioned. The list is not exhaustive.ManufacturerCompany descriptionSectors/ ProductsABBCrompton GreavesBharat HeavyElectricals LimitedKirloskar ElectricHas 14 manufacturing facilities and more than 6 500employees. ABB Group is leveraging its India operationsfor projects, products, services, engineering,and R&D. India is a hub for the South Asia region.Started its India operations in 1937. One of India’slargest private sector companies. It is a diverse companyengaged in designing, manufacturing and marketingtechnologically advanced electrical machinery.Established more than 40 years ago, it is the largestcompany in the industry. Its range of 180 productscater to power generation and transmission, transportation,telecom, and renewable energy industries.Established in 1946 it is one of India’s leading manufacturersof electrical machinery and power equipment.Is capable of manufacturing a range of custommade products.Control systems, highvoltageproducts and systems,transformers, cables andaccessories and generators.Transformers, transmissionproducts, generators andlighting products.Switchgears, boilers,turbines, generators,transformers, compressors,capacitors etc.Motors, generators, switchgears,transformers, andother electrical productslike DC machines.Larsen & ToubroIt is one of the largest private sector companies inthe business. It manufactures custom designed andengineered electrical machinery and systems.Switchgear, control andautomation systems andmeters, turbine casings etc.AlstomHavellsThermaxEmploys more than 3 300 people in India and has 4manufacturing facilities. Alstom India has full capabilitiesin engineering, manufacturing, project managementand supply of power generation equipment.One of the fastest growing indigenous electrical andpower distribution equipment manufacturing companies.Employs over 8 000 employees and has manufacturingfacilities spread across USA, Europe and Africa.Boilers, generators, turbines,heat exchangers etc.Cables, switchgear, capacitorsand lighting equipment.An Indian company having 5 manufacturing facilities Boilers and heaters are itsand has been in the business of manufacturing major productselectrical equipment for more than 3 decades. Its productsare sold in more than 40 countries worldwide.Source: Industry research and analysis. Websites of each of the companies have been used10

Contribution of the electrical machinery industry to the economyMore than 95 per cent of the electrical machinery successfully installed in operationin India has been produced, installed and commissioned by the Indian electricalmachinery industry itself. Most of the products required for the industrial, commercial,and domestic sectors are manufactured by the Indian electrical machineryindustry. 14 India has developed strong capabilities in manufacturing top-end andhigh technology products like transformers, turbines and generators that are at parwith international standards. The industry had a volatile time during the period1997–1998 to 2001–2002, but has been showing positive trends since 2002–2003.Among the two segments of the industry, the heavy electrical machinery segment hasexhibited stronger growth than the light electrical machinery segment.Heavy electrical machinery segment has shown robust growthThe heavy electrical machinery segment contributes more to the economy than thelight electrical machinery segment. Turbines and boilers are two sub-segments thathave continuously shown robust increases in growth since the year 2004–2005. Theboilers sub-segment is the largest sub-segment in the industry. However, the switchgearand control gear sector has shown spectacular growth. 15TURNOVER OF sub-segments IN THE HEAVY ELECTRICAL MACHINERY SEGMENTThe table below depicts turnover details between 2004–2005 and 2007–2008. Data shown is from Aprilto November for each year. Figures for switchgear and control gear are from April to March for each year.All figures are in Rs. Million except for figures of transformers which are in Million KVa. 16Sub-segment/Year 2004–2005 2005–2006 2006–2007 2007–2008Turbines 2 598.05 4 471.06 6 695.94 11 511.10Generators 7 684.75 4 725.73 6 913.03 7 959.76Boilers 12 130.58 20 964.94 30 265.90 44 436.52Transformers (Million KVa) 31.61 41.21 44.14 42.32Switchgear & control gear* 1 890 Not available Not available 40 000Source: Ministry of Heavy Industries and Public Enterprises14) Reference has been made to Indian Electrical and Electronics Manufacturers Association (2007)15) It is not clear if the turnover data for the switchgear and control gear sub-segment is accurate. However, the figurefor the sector in 2007–2008 is accurate.16) Reference has been made to Ministry of Heavy Industries and Public Enterprises (2008), Ministry of HeavyIndustries and Public Enterprises (2007), Ministry of Heavy Industries and Public Enterprises (2006), Ministry ofHeavy Industries and Public Enterprises (2005) and Ministry of Heavy Industries and Public Enterprises (2004)11

India’s per capita energy consumption is very low. With the growing economy,changing lifestyles, increasing electrification of rural and semi – urban areas, theconsumption of electricity is expected to increase, leading to higher per capitaelectricity consumption. As per the Ministry of Power and the Central ElectricityAuthority (CEA), per capita electricity consumption is set to increase from 585units in 2007–2008 to 1000 units by 2011–2012.From the figure below it can be inferred that electricity consumption in India isconsiderably be lower than the average per capita electricity consumption in OECDcountries and some of its Asian neighbours. However, demand for electricity is setto increase substantially in line with India’s growth path. 18PER CAPITA ELECTRICITY CONSUMPTION OF INDIA VIS A VIS OTHER REGIONSThe table below depicts unit consumption of electricity in 2007–2008.13 0668 0447 0075852 4291 379India World average OECD countries USA China South KoreaSource: Industry research and analysis firm ASK India Securities Private LimitedSlow growth of the industry in recent timesDespite ambitious growth targets for capacity expansion being set by the GOI andassurances being given, the ground reality is a little different. Slowdown of growthin power generation has led to a fall in the growth rate of the electrical machinerymanufacturing industry in 2007–2008, as orders are not finalized as planned. Accordingto the President, IEEMA, Mr. Sunil More, the growth rate in the industryin 2007–2008 was slower than the growth rate in 2006–2007. He attributes these18) Reference has been made to ASK Securities India Private Limited (13th July 2007)13

easons to many factors, among which the major factor is non – finalization of largeorders in the pipeline by the Power Grid Corporation, which is one of the largestconsumers of electrical machinery in India.At the same time, according to Mr. Sunil More, whenever the manufacturing baseexpands the growth rate usually tapers downwards as compared to earlier rates,and this is what is happening to the electrical machinery industry currently. So it isexpected that stronger growth rates will be demonstrated in the industry in future. 19Advantages that are driving growth of the industryIndia has also made continuous improvements in terms of quality of manufacturedproducts, although it is yet to reach the quality standards of the global manufacturersin some cases. In comparison to some of the Asian tigers, India’s quality standardsare far more superior.India is in competition with China over the manufacture of electrical machinerymainly in terms of cost. However, the cost advantage that China enjoyed over Indiain the last few years was in the range of 20–25 per cent whereas now that cost advantageover India is reducing and is now about 5 per cent. This can be attributedmainly to subsidized raw materials, an artificially low valued currency of the Yuanin China, and lower incidence of indirect taxes. India, on the other hand has costadvantages on account of lower logistics cost and delivery. 20Key strength of the industry is in being able to customize manufacturing of productsIndia is able to manufacture both the standard products in some cases and alsocustomize products efficiently. For instance, in the cases of boilers, China is ableto capitalize on advantages of economies of low cost raw materials and standardproducts like the 300 MW and the 600 MW boilers. According to Mr. R.N. Misra,Executive Director, Bharat Heavy Electricals Limited, China is the readymademanufacturer whereas India is the tailor. Indian manufacturers are highly capableof being able to customize effectively to the benefit of the buying companies. Otherthan cost, delivery time is also key to performance. Recently a state electricity boarddisqualified a Chinese supplier because of a project delay of 2 years. 2119) Reference has been made to The Hindu Business Line (15th March 2008)20) Reference has been made to The Hindu Business Line (29th June 2008b)21) Reference has been made to The Hindu Business Line (25th June 2008)14

• ABB has been making fresh investments in the country since 2003–2004 andrecently announced plans to invest a further USD 100 million between 2008 and2010 towards capacity expansion. ABB’s turnover is also expected to double by2009–2010 from that in 2007–2008.• The company wants to use India as a hub for Research & Development (R&D)and engineering to service other regions as well.• The company not only plans to use India as a low cost manufacturing unit, butalso as a resource base for the Asia Pacific region for its operations worldwide.• The number of employees in ABB in India would double from 6 000 employeesin 2007–2008 to 10 000 by 2009–2010. This number would be larger than thecombined workforce in Sweden and Switzerland. 23Nuclear deal could lead to more business for electrical machinery manufacturersThe nuclear deal with the United States of America (USA) is expected to generate alarge amount of demand for the electrical machinery industry. This is because nuclearpower projects require similar kind of machinery and equipment that thermalpower projects require with some modifications. The deal could prove to be highlybeneficial to many companies involved in producing heavy electrical machinery likeABB, Larsen & Toubro, BHEL and EMCO etc.Bottlenecks in growth of the Indian electrical machinery industryAlthough India has certain significant advantages that are helping the industrialsector overall and the electrical machinery industry also, there are bottlenecks thatcan inhibit the growth potential. Big challenges cited by industry experts are timelyavailability of raw materials and infrastructural deficiencies. The GOI has set ambitiousplans to increase the power generation capacity of India. However, there aredoubts about whether these targets will be achieved due to sluggish growth of thepower sector. This would also affect the electrical machinery industry. At the sametime, power remains a high priority concern in India and development in the sectoris certain. Hence, as the bottlenecks are removed, the power sector will develop, andthus demand for electrical machinery would grow.23) Reference has been made to The Hindu Business Line (4th December 2007)16

Pattern of developmentAs mentioned earlier, the electrical machinery industry’s growth is being modelledon the successful cluster pattern of development adopted by the automotive industryin India.Scattered growth but segmentwise consolidation has begunThe electrical machinery industry is now trying to nurture its suppliers in the sameway as in the automotive industry and automotive components industry. This planalso includes the small scale local suppliers. Further, efforts are being made to developthese suppliers not only for the domestic market but also for the global facilitiesof large companies like the French major Areva for instance. 24The GOI is planning to create hubs for each segment. Recently, India’s largest powergeneration company National Thermal Power Corporation (NTPC) and BHEL formeda joint venture for manufacturing electrical machinery to make up for the gapin demand and supply of electrical machinery. Both these companies are PSUs andthus the GOI exercises substantial influence on them. The GOI has proposed thatturbines be manufactured in the city of Pune in West India, boilers be manufacturedin the city of Vizag in East India and balance of plant equipment be manufacturedin the state of West Bengal. 25Development of ultra mega power projects driving developmentThe Ministry of Power has launched an initiative for development of coal basedUltra Mega Power Projects (UMPP) in India each with a capacity of 4 000 MW andabove. Major sites have been identified in 5 states along the coast in Eastern andWestern India, and 3 states in central India.These power projects are going to be developed on the basis that all machinery andequipment required will be manufactured domestically. Thus foreign manufacturersand joint venture companies will bid under the stipulation that electricalmachinery for the projects would only be supplied through indigenization of technology.This move has been made to provide impetus to the domestic manufacturingsector, and is aimed at restricting imports of electrical machinery.24) Reference has been made to The Hindu Business Line (14th February 2006)25) Reference has been made to The Hindu Business Line (29th April 2008)17

The GOI is promoting development of the industry by enabling foreign and domesticmanufacturers to produce electrical machinery indigenously in India. Thelarge scale power generation and expansion programme through UMPPs will helpdomestic manufacturing and lead to growth of the industry overall. 26Size and structure of the heavy electricalmachinery segmentHeavy electrical machinery covers machinery for power generation, transmission,distribution and utilization. This includes generators, boilers, various types ofturbines, transformers, switchgears and other allied items. These are used in multicoreprojects for power generation including nuclear power stations, petrochemicalcomplexes, chemical plants, integrated steel plants and metal units.The GOI has an ambitious mission of addition in generation of power named ‘ForAll 2012’. A capacity addition of 72 000 MW would be required to achieve power forall in India. This scale of expansion in capacity is expected to stimulate demand ina big way for heavy electrical machinery. The technology available in India is almostat par with that in the international market barring some exceptions like high voltageequipment. 27It is believed that the history and growth of BHEL, symbolizes the overall growthpattern of the heavy electrical machinery industry in the country. BHEL has theunique distinction of being one of the very few companies in the world, manufacturingall major power generation equipment together under one roof. Now sincethe demand for electricity has been increasing steadily, there is a burgeoning needfor more electrical machinery manufacturers as BHEL alone is not able to fulfill theentire demand.The industry has been upgrading the existing technology and is now capable oftaking up turnkey contracts for export markets as well. The industry has been delicensedand foreign collaborations are allowed with 100 percent FDI. The country isplanning to add 150 000 MW to the power generation capacity in the next 10 years.This will generate substantial demand for heavy electrical machinery. 2826) Reference has been made to The Hindu Business Line (3rd May 2008)27) Reference has been made to The Hindu Business Line (23rd November 2006)28) Reference has been made to Ministry of External Affairs (11th April 2008)18

There is a strong base for the manufacture of heavy electrical machinery in thecountry. The present buoyancy in the Indian economy would further create demandfor electrical machinery through industrial growth and general economic development.Turbines and generatorsThe turbines sub-segment of the industry recorded a turnover of Rs. 11 511 millionin the year 2007–2008 (April to November) growing at the rate of nearly 72 percent. There are various kinds of turbines being produced in the country includinggas turbines, hydro turbines and steam turbines. BHEL has the largest installedcapacity of turbines and generators in the country. However, there are private sectormanufacturers producing steam turbines and gas turbines also. The entire range ofturbines is manufactured including steam turbines of up to 660 MW. There are facilitiesto manufacture turbines up to 1 000 MW as well. Custom built conventionalhydro turbines of Kaplan, Francis and Pelton types with matching generators arealso produced indigenously in India. 29The generators sub-segment of the industry recorded a turnover of Rs. 7 959.7million in the year 2007–2008 (April to November) growing at the rate of approximately15 per cent. Generators manufactured in India are at par with internationalgenerators and consistently deliver high performance. Domestic manufacturers arecapable of manufacturing generators right from 0.5 KVA to 25 000 KVA and above.There are a large number of joint venture partnerships being established in thissub-segment. In November 2007, L&T and Mitsubishi Heavy Industries Ltd, Japan,inked a joint venture to set up a manufacturing facility in India to manufacturesupercritical steam turbine and generators. The product configuration would caterto plant capacities ranging between 500 MW and 1 000 MW.Cummins Generator Technologies India Private Limited (CGTIL) is one of the largegenerator manufacturing companies in India. It is setting up plants across Indiaaggressively. In addition to expanding in the domestic market, CGTIL is all set tobecome a major export hub for its markets in other parts of the world such as WestAsia, China, Latin America, Africa and some countries in Eastern Europe. 3029) Reference has been made to Ministry of Heavy Industries and Public Enterprises (2008)30) Reference has been made to The Hindu Business Line (11th January 2008) and The Hindu Business Line(15th January 2008)19

TransformersThe transformers sub-segment of the industry recorded production of 42.32 MillionKva in the year 2007–2008 (April to November). The sub-segment declined by4.30 per cent during the period. The transformer industry in India has developedfor over 50 years and has a well matured technology base. The Indian transformerindustry is oligopolistic in nature with the top six players having more than80 per cent share in the sub-segment. 31 These include Siemens, ABB, Schneider,BHEL, Crompton Greaves and EMCO. The long process of qualification with StateElectricity Boards (SEBs) and a multitude of regulations act as entry barriers fornew players. The health of the transformer industry depends largely on the powergeneration and transmission sector. The major users of this industry are the SEBsand industries. 32The industry has the technology to manufacture a wide range of power transformers,distribution transformers and special transformers for welding, traction andfurnaces etc. Energy efficient transformers with low losses and low noise levelsare also being developed to meet international requirements. The domestic transformerindustry is well established with the capability to provide state of-the-artequipment. The industry has the capacity to manufacture the whole range of powerand distribution transformers including the extra high voltage ranges. Siemensthe global power equipment manufacturer has setup a new plant near Mumbai, inWestern India. It aims to use this facility to reach markets in West Asia and SAARCcountries. Mr. J. Schubert, Managing Director, Siemens, said that in view of theopportunities in India and the overseas market, the company is first planning to stabilizeand then ramp up transformer production. 33 Kirloskar Power Equipments Ltdhas announced the inauguration of a greenfield manufacturing unit at Kondhapuri,near Pune in West India. The new facility will help enhance manufacturing capacityto meet the robust demand for transformers in India and abroad. Kirloskar PowerEquipments has established itself as a key player in the Indian transformer industry.Voltamp Transformers, Emco Ltd and Indo Tech Transformers Ltd are also expectedto be the major beneficiaries of the increased demand in the Power sub-segment. 34Mr Hitul Gutka, Power Analyst, India Infoline Ltd said that the rural electrificationinitiative of the GOI would lead to rising demand for transformers. The growth in31) Reference has been made to SSKI India Research (21st February 2005)32) Reference has been made to Department of Heavy Industry (2006)33) Reference has been made to The Hindu Business Line (5th December 2007)34) Reference has been made to The Hindu Business Line (3rd April 2008)20

infrastructure and housing in India will also generate further demand for power.Large number of new malls, hotels and IT parks being developed will also result inlarge consumption of power, say analysts. ”Almost one fourth of the total investmentin power generation goes towards transformers, which indicates that over thenext five years, at least Rs 1 000 billion should be spent on the transformer industry.”said Mr Mehul Mukati, Power Analyst, Emkay Shares and Stock Brokers Ltd. 35BoilersIn terms of turnover, Boilers is the largest sub-segment of the heavy electricalmachinery segment and hence in the electrical machinery industry as well. Thesub-segments turnover in the year 2007–2008 (April to November) was Rs. 44 436.5million. The sub-segment recorded the second fastest growth in the heavy machinerysegment of 46.82 per cent during the period. With the increasing demand forpower in India and expansion of power generation capacities in India in view of theEleventh Five Year Plan, production of boilers is set to expand substantially recordingstrong growth rates for the years to come.Bharat Heavy Electricals Limited (BHEL) is the largest manufacturer of boilers inthe country (with more than 60 per cent market share) and has the capacity to manufactureboilers for thermal power plants apart from utility boilers and industrialboilers. The industry has the capability to manufacture boilers with super criticalparameters up to 1 000 MW in size.Switchgear and control gearThe switchgear and control gear sub-segment in India is fully developed, producing,and supplying a wide range of switchgear and control gear. It is estimated that thepresent size of the switchgear market is more than Rs. 40 billion. The sub-segmentis competitive in the field of design and engineering as the skill sets available in thecountry are relatively less expensive. Continuous power supply is a crucial requirementnot only for industry but also for every other use of electricity. In India, theentire range of circuit breakers from bulk oil, minimum oil, air blast, vacuum to SF6are manufactured to standard specifications for customers. The ranges of productsproduced cover the entire voltage range for switchgear and control gear, MiniatureCircuit Breakers (MCBs), air circuit breakers, switches, rewireable fuses and HRCfuses with their respective fuse bases, holders and starters. Switchgear and controlgear are indispensable both in transmission and distribution of power and hence35) Reference has been made to The Hindu Business Line (20th January 2007)21

with the increase in power generation and transmission, a substantial increase ingrowth of this sub-segment of the industry is foreseen. 36Size and structure of the light electricalmachinery segmentThe light electrical machinery sub-segment is diverse having a number of distinctproducts and sub-products. It includes industrial goods like electrical wires andcables, transmission towers, cranes, lifts and escalators, storage batteries and dry cellbatteries and electrical lamps. A brief on each of the sub-segments within the lightelectrical machinery segment is given below.Electrical wires and cablesWires and cables made of fibre optics, iron or nonferrous (copper, zinc, aluminium),play an important role in most areas of industrial activities and daily life. Theelectrical wires and cables industry is one of the earliest industries established inthe country in the field of electrical machinery. A wide range of wires and cables aremanufactured including communication cables such as telephone cables, optic fibercables, local area network cables, switchboard cables, coaxial cables, VSAT cables,electrical cables such as electrical wires, winding wires, automotive/battery cables,UPS cables, flexible wires, low voltage power cables and EHT power cables.The major user industries of wires and cables are the power, electrical machinery,electronic equipment, telecom, entertainment and construction industries. Withinfrastructure receiving priority attention from the GOI, construction, power andtelecom industries are developing fast. This development will give a boost to thewires and cables industries. In 2006–2007, production of wires and cables wasreported to be 817 000 core kilometres. During the year 2007–2008 (up to December2007), the reported production of electrical wires and cables was over 2 093 000core kilometres. 37With advancements and developments in the industry, manufacture of buss ductshas also begun in India for safe transport of electricity in multistoried buildings.Some major global manufactures have also started manufacturing in this segment.For instance, Eaton Power Quality Private Ltd (EPQPL), the electrical products36) Reference has been made to The Hindu Business Line (3rd May 2008)37) Reference has been made to Ministry of Commerce and Industry (2008)22

division of the large USA based corporation, is gearing up to focus aggressively onbuss ducts in India – a replacement for power cables which helps highrise buildingsto save on cost of ownership. 38Transmission towersKeeping pace with growth of industries in the country and a spurt in the domesticdemand for power, the electrical energy sector is growing at a rapid pace. There isan increasing shift in India to have larger power stations, particularly super thermalpower stations.Consequently, while there would be less but larger power generating stations, thedemand for transmission of energy is expected to grow substantially. The transmissionnetwork of an electrical power utility constitutes a critical part of the wholepower system. The country has sufficient capacity to cater to the demands arisingin the country and also for exports. The industry has set up facilities for testingtransmission towers up to 1 000 KV with the objective of catering to future growthof transmission systems in the country as well as for exports. 39An encouraging investment environment, maintenance led upgradation programmesand new Transmission and Distribution (T&D) network rollouts are expectedto continue to propel growth in this segment. The Eleventh Plan (2007–2012) islikely to see an investment of around Rs 2 475 billion for the expansion of the transmissioninfrastructure. 40CranesA wide range of cranes are manufactured in the country. These include ElectricOverhead Traveling (EOT) cranes, mobile cranes, ladle cranes, hydraulic decks, crabcranes, floating cranes, controller cranes etc. There is a good potential for growth ofthis the sub-segment, in view of increased industrial activities in various fields, aswell as the construction industry. In 2006–2007, the sub-segment reported productionof 19 056 tonnes of cranes. Hence it has not been witnessing strong growth ratesbut has been growing steadily over the past few years and is expected to continue togrow this way in the future.38) The Hindu Business Line (27th June 2008) has been referred39) Reference has been made to Ministry of Commerce and Industry (2008)40) The Hindu Business Line (13th January 2007) has been referred23

Lifts and escalatorsLifts and escalators have evolved into sophisticated, safe and simple systems, tosuit the requirements of various diverse users, with the help of latest innovation intechnology. A wide range of lifts and escalators are manufactured in India. Theseinclude single speed, double speed, gearless, hydraulic, servo and Variable VoltageVariable Frequency (VVVF) elevators. During the year 2007–2008 (up to December2007) the production was reported at 6 370 numbers. 41Riding high on the realty boom, the elevator and escalator industry has seen a near25 per cent growth over the last three to four years. In the year 2007–2008 the estimatedturnover was about Rs 42 billion. The use of lifts and escalators is increasingrapidly, due to substantial investments in the construction of multistoried housingcomplexes, large malls and supermarkets of international standards, modernizationof airports and railway stations.“As of now, escalators are imported, mostly from China, and conform to the Europeannorms” says Mr. T.A.K. Mathews, a qualified elevator inspector accredited bythe US-based National Association of Elevator Safety. A third of the elevator marketis serviced by the unorganized sector.It is the ‘consistency of material’ performance that puts a question mark on suppliesmade by the unorganized sector. Moreover, the ground-plus-six floor segment iscatered to largely by the unorganized sector whose prices are almost half that of theorganized sector players. As cities grow vertically, lifts and escalators become the lifeline for the buildings that constitute this development. Rapid urbanization, robustactivity in the construction industry and corporatization of the real estate sector hasled to a healthy growth of this industry. 42BatteriesThe Indian battery manufacturing industry is maturing and growth is not onlybeing driven by the automotive industry but also by other industries like telecom,railways, power and other industrial applications. With an increasing number ofglobal automotive manufacturers making India a hub for exports to other countriesin Asia and SAARC countries, the overall market base for batteries has been enhancedsubstantially. At the same time due to strong growth in the economy and theindustrial sector, the demand for industrial batteries has also been robust. With the41) Reference has been made to Ministry of Commerce and Industry (2008)42) The Hindu Business Line (25th February 2008) has been referred24

country short of power in several pockets, usage of inverters too, has gone up significantly,and this is not expected to come down soon.The domestic battery industry in India is poised to more than double within fouryears given the current rate of growth of over 20 per cent per annum, according toMr S.B. Ganguly, Chairman, Exide Industries Ltd. 43 Given the market potential, forthe first time an International Battery Fair is being hosted in India, normally hostedin the US, Europe and in the Asia-Pacific markets. This shows how the global marketis viewing India and its business prospects.There are major manufacturers in the country like Exide, Amco Yuasa, Amaron,Panasonic, Duracell, there are a large number of small manufacturers in the unorganizedmarket. Mr Ganguly said that the organised sector accounts for Rs 50 billion,and the unorganised sector accounts for about three times that amount i.e. Rs.150 billion. 44 During the year 2006–2007, the organized sector recorded productionof 40.11 million units. 45The battery industry can be divided into two parts, lead acid batteries and dry cellbatteries. Lead acid batteries are used in vehicles and are also used for industrialpurposes such as backup power for UPS applications, control rooms, power stationsetc. However, the major user of these batteries is the automotive industry. Inaddition, these are also used for supplying power in emergency lights, telephonesystems, machine tools and material handling equipment. A new application ofthese batteries is in electric vehicles.Dry cell batteries are the oldest type of batteries still being used. Performance ofthese batteries has undergone progressive improvements through technologicaldevelopments. Although there have been improvements in manufacture of dry cells,the basic structure remains the same. In the liberalized economic environment,inexpensive batteries like rechargeable cells are coming into the market. New typesof dry cell batteries with a longer shelf life and greater dependability have also comeup. Leak proof dry cells are used in expensive electronic/auto equipment and toys.Nickel cadmium batteries and other rechargeable batteries are manufactured tomeet the requirements in defence, telecommunications and electronics.43) Exide is one of the largest battery manufacturing companies in India44) The Hindu Business Line (13th March 2008) has been referred45) Reference has been made to Ministry of Commerce and Industry (2008)25

Environment friendly alkaline batteries, which are mercury free, are also beingmanufactured in the country. Though the usage of high drain applications is yet topick up in the country, the growing popularity of cellular phones, laptops and importedtoys could open the market for a new range of batteries that are not producedat present. The production of dry cells in the organized sector in 2006–2007 wasreported to be 2552.33 million numbers. 46Electrical lamps and tubesThe emphasis on the power sector and its phenomenal growth and distribution laidthe foundation for the lighting industry in India. Electric lighting industry is welldeveloped in the country. A wide range of lamps and tubes are manufactured in thecountry which include General Lighting Service (GLS) lamps, such as incandescentbulbs, halogen lamps, gas discharge lamps, such as fluorescent tube lights, compactfluorescent lamps, high pressure mercury vapour lamps, metal halide lamps, lowpressure and high pressure sodium vapour lamps and a variety of special lamps.The higher energy cost has led to the development of energy efficient lamps consumingless power and giving output as close to daylight. Compact FluorescentLamps (CFL), which consume about 20 per cent of the electricity for the same lightoutput and last up to 10 times longer than the GLS lamps are getting more popular.Manufacturers are adopting imported designs and know-how through technicalcollaborations.There has been an effective widening of the locally produced range of lamps, alongwith the serious advent of electronic equipment in lighting, thereby supplyingbetter, more efficient and cheaper lighting systems with improved aesthetics. Thefuture of the industry envisages immense prospects of growth and development fortechnologically advanced and cost effective organization. Miniaturization, electroniccircuitry, newer chemicals and better luminaries are all providing the world withproducts of larger light output at minimum cost helping energy conservation.The growth of the industry has been substantial during the last few years. The productionof GLS lamps in the organized sector in 2006–2007 is reported to be 470.46million, whereas the production of fluorescent tubes in the same period was 209.02million. 4746) Reference has been made to Ministry of Commerce and Industry (2008)47) Reference has been made to Ministry of Commerce and Industry (2008)26

International tradeThe largest sub-segments in the electrical machinery in terms of exports are turbinesand generators and transformers in the heavy electrical machinery segment andwires and cables in the light electrical machinery segment. In case of turbines andgenerators and transformers, a bulk of the exports is made by BHEL. With increasingdemand in the domestic market the focus of the Indian manufacturers hasbeen in India but in the recent past they have been making forays into other marketsin Africa, Europe and Asia also.ExportsAs mentioned earlier, the Indian manufacturers did not focus on exporting to othermarkets around the world. However a start has been made now. This can be seen bystudying the trends in exports of the high value and high skill products in the heavyelectrical machinery segment, with turbines and generators and transformers. Boththese segments have seen very strong growth rates from 2003–2004 to 2006–2007.Other sub-segments too have been growing in terms of exports.EXPORTS OF Sub-segments WITHIN THE HEAVY ELECTRICAL MACHINERY SEGMENTThe table below depicts export details between 2003–2004 and 2006–2007. All figures are in Rs. Million.Sub-segment/Year 2003–2004 2004–2005 2005–2006 2006–2007Turbines and generators 2 392.8 5 899.6 5 650.0 21 000.0Boilers 1 560.6 2 239.0 2 420.0 3 950.0Transformers 7 783.3 8 983.2 16 400.0 29 230.0Switchgear & control gear 6 543.1 7 185.3 11 080.0 14 640.0Source: Ministry of Heavy Industries and Public EnterprisesWith rapid increase in development in infrastructure there has been an increase inproduction and export of electrical wires and cables. With more such developmentexpected in the years to come exports in this segment are expected to continue toboom. Although the production of cranes in India has been increasing at a very fast27

pace, export of cranes is not a focus area and production is mainly expected to caterto the domestic demand only. 48EXPORTS OF sub-segments WITHIN THE LIGHT ELECTRICAL MACHINERY SEGMENTThe table below depicts exports details between 2005–2006 and 2006–2007. All figures are in Rs. Million.Sub-segment/Year 2005–2006 2006–2007Electrical wires & cables 7 247.0 15 207.0Transmission towers 3 123.0 5 707.0Cranes 957.6 834.0Lead acid batteries 2 007.0 2 593.0Dry cell batteries 414.0 515.0Source: Ministry of Commerce and Industry* Figures for lifts and escalators were not available. Data for exports for years prior to 2005–2006 was not available.ImportsIndia remains a major importer of electrical machinery across the heavy and lightelectrical machinery segments. In the heavy electrical machinery segment the importsare more than exports in turbines and generators and transformers segments.Although there has been tremendous growth in production in the turbines andgenerators segment there has also been significant growth in imports from 2003–2004 till 2006–2007. This can be attributed to the shortage in production in India tomatch the demand for turbines and generators.It is the same in case of switchgear and control gear. With more and more foreignparticipation being encouraged, the heavy electrical machinery segment is expectedto continue to import in large numbers. 4948) Reference has been made to Ministry of Heavy Industries and Public Enterprises (2008), Ministry of Heavy Industriesand Public Enterprises (2007), Ministry of Heavy Industries and Public Enterprises (2006), Ministry of HeavyIndustries and Public Enterprises (2005) and Ministry of Heavy Industries and Public Enterprises (2004)49) Reference has been made to Ministry of Commerce and Industry (2008), Ministry of Commerce and Industry(2007), and Ministry of Commerce and Industry (2006)28

IMPORTS OF Sub-segmentS WITHIN THE HEAVY ELECTRICAL MACHINERY SEGMENTThe table below depicts turnover details between 2004–2005 and 2006–2007. All figures are in Rs. Million.Sub-segment/Year 2003–2004 2004–2005 2005–2006 2006–2007Turbines and generators 12 923.9 16 759.8 24 200.0 30 690.0Boilers 727.3 741.9 1 600.0 980.0Transformers Not available 12 779.1 18 000.0 25 230.0Switchgear & control gear Not available 12 507.4 16 900.0 23 220.0Source: Ministry of Heavy Industries and Public Enterprises* Figures for imports were not available for the year 2003–2004 in case of transformers and switchgear and control gearThe largest imports are being made in the electrical wires and cables sub-segmentdespite strong growth rates in production followed by cranes. In both cases despitestrong production rates, there are substantial imports due to the tremendous demandfor these products being generated in the infrastructure sub-segment. 50IMPORTS OF Sub-segmentS WITHIN THE LIGHT ELECTRICAL MACHINERY SEGMENTThe table below depicts turnover details between 2005–2006 and 2006–2007. All figures are in Rs. Million. 51Sub-segment/Year 2005–2006 2006–2007Electrical wires & cables 15 514.0 15 514.0Transmission towers 217.3 147.0Cranes 10 455.0 12 039.0Lead acid batteries 5 218.0 7 848.0Dry cell batteries 1 846.0 2 978.0Source: Ministry of Commerce and Industry* Figures for lifts and escalators were not available50) Reference has been made to Ministry of Heavy Industries and Public Enterprises (2008), Ministry of HeavyIndustries and Public Enterprises (2007), Ministry of Heavy Industries and Public Enterprises (2006), Ministry ofHeavy Industries and Public Enterprises (2005) and Ministry of Heavy Industries and Public Enterprises (2004)51) Reference has been made to Ministry of Commerce and Industry (2008), Ministry of Commerce and Industry(2007), and Ministry of Commerce and Industry (2006)29

Research and developmentR&D is a focus area in the electrical machinery manufacturing industry. There aretwo broad dimensions for conducting R&D in the industry:• R&D in segments manufacturing electrical machinery for generation/transmissionand distribution of power and• The applied research involving improvement of efficiency and effectiveness ofvarious techniques, procedures, processes, maintenance & upkeep of machineryMajority of the companies in India started investing in R&D only in the 1990s exceptfor the market leaders. Despite that, investments in R&D by the electrical machineryindustry are amongst the largest in the corporate sector in India. The domestic heavyelectrical machinery manufacturers are making use of the develop ments of the globalmarket with respect to product designs and upgrading of manufacturing and testingfacilities. These encompass thermal, hydro and gas based power plants, substationprojects, rehabilitation projects, besides a wide variety of products like transformers,photo voltaic equipments, insulators, switchgears, motors etc.The industry depends a great deal on design and engineering and since most of theproducts need to be reengineered and designed to customer specifications, the basictechnology used by most of the companies except for those used by the internationalcompanies belongs to the 1970s. Technology transfer has been fairly limited andR&D activity has also been less although a few companies are specially engineeringtheir products for each application and developing technology to meet customerrequirements.According to a survey conducted by CII and McKinsey on 120 companies in theelectrical machinery industry in India, it was found that 33 per cent of the companieshave technology transfer agreements while another 30 per cent were planningtechnology tie – ups to upgrade their products and processes. Transfer of technologyis not possible easily due to the falling customs duty where companies prefer tomarket their products directly, instead of manufacturing in India. 5252) Department of Heavy Industry (2006) has been referred30

The cost of research being very high, it is necessary that state of the art technologywhich has been developed in other parts of the world is transferred to India in orderto build on that. Since electrical specifications and norms vary in different countriesit is very important for the companies operating in India to adapt the technologiesto suit Indian conditions.According to the survey, the percentage of sales spent on R&D ranged from 0.2 percent to as high as 10 per cent of gross sales. However the industry average of theamount spent on R&D as a percentage of sales was negligible at 0.5 per cent whereasthe international leaders spent as much as 5–6 per cent of their sales.R&D and technology innovation is very low by international standards becausehuge investments in R&D are not sustainable by Indian companies since their size issmaller compared to the global players. Most of the in-house R&D is more concentratedon development and quality control. 53Another major constraint faced by the domestic manufacturers of high voltageequipment is the availability of testing facilities. At present only Central PowerResearch Institute (CPRI) has the facilities for testing such equipment. Howeverthey are not even completely equipped. At present the manufacturers of very highvoltage equipment send their products to KEEMA, in Netherlands which is not onlya cumbersome process but also an expensive one. 54In the Indian context, opening up of the economy and the consequent entry ofinternational players has substantially enhanced the need for production of goodsand services to meet international standards. Large Public Sector Enterprises (PSEs)under the Ministry of Commerce and Industry are also pursuing their plans toadopt and introduce new technologies through collaborations and inhouse R&Defforts in this regard. 5553) Department of Heavy Industry (2006) has been referred54) Central Electricity Authority & Confederation of Indian Industry (2007) has been referred55) Reference has been made to Ministry of Commerce and Industry (2008)31

Future outlookThe electrical machinery industry has had a reasonable level of growth in India. Theheavy electrical machinery segment though has demonstrated stronger growth ratesdue to the development of the power sector in recent years. The industry has undertakensignificant expansion and development in view of the growth in domesticrequirements for electricity in the country.The industry is working on initiatives to consider certain specific activities for itsoverall development. Companies are in the process of upgrading their present rangeof products since a new range of products with the latest technologies catering togas based and nuclear power projects will be in greater demand. Large scale enhancementof facilities is also being done to fill up the gap between supply and demandof electrical machinery in the country.The survey conducted by CII and McKinsey indicates that the level of capital expenditurebeing planned for the expansion is inadequate and is only being done by theindustry leaders. Thus imports will continue to form a substantial part of the electricalmachinery industry in the upcoming years. The levels of technology currentlyin use barring exceptions like high voltage technology are at par with internationalnorms. India has the advantage of availability of highly skilled manpower at relativelylow cost and this can certainly help to shape technology growth and developmentof this sector especially in the context of expansion in global markets.The sector is experiencing difficulties in technology transfer since foreign companiescan now directly participate in infrastructure projects. An increasing numberof global majors are reluctant to transfer technology to Indian companies since theywant to sell the equipment directly. Thus the Indian electrical machinery industryneeds to be able to augment its technology levels to international standards.Companies need to continue focusing on operational excellence, cost optimizationand exports to be profitable in the face of ever increasing competition. Improvingprocesses by benchmarking with the best in the business for faster delivery of superiorquality products/ services will be the only factors that can help companies gaina foothold in export markets as well as enhance their position domestically.32

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