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Statistics, news & updates: everything you need to know about the Energy & Utilities Industry in India
Energy supply has always been a major problem in India. In fact, a lot of people still don’t have access to power. Besides, power cuts and shortages are the daily life problems faced by many people.
India’s power sector is one of the most diversified in the world. Sources of power generation include conventional sources like coal, lignite, natural gas, oil, hydro and nuclear power to non-conventional sources like wind, solar domestic waste and agriculture.
The Energy Industry is currently undergoing a transformation.The Government aims to make India one of the world’s largest installations of clean energy. One step is to renovate the power supply infrastructure. Another one is to look into green energies like wind or solar power. This would also help to make India’s energy cleaner as the main source of energy still are fossil products.
The Indian government recognizes the need for private investment in the sector. Hence, a lot of initiatives have been made by the Government. Moreover, numerous incentives and schemes have been introduced to promote investment in the sector. Under the 5 year plan of 2017-2022, the government has set a target of capacity addition of 100 GW. The Government has also set the target to take the total capacity of renewable Energy to 175 GW by 2022.
The Budget 2019 reassures the Government’s focus on renewable energy by allocating about $396.5 million to renewables. All in all, there is a positive outlook for the Energy and Utilities sectors. India is set for a period of rapid and sustained growth in energy demand due to economic development.
Even during the economic slowdown of COVID, the energy and utility sector, in general, generated stable revenues. Despite industrial shutdowns, labor shortages, and a decrease in demand the industry bounced back at the end of the first quarter in 2021. The all-India energy demand was higher by 22.8 percent year-on-year at 122 billion units.
On the other hand, electricity generation increased from 23.5 percent to 118.6 billion units supported by 29 percent growth in thermal generation although hydro generation fell almost 8 percent.
Despite the onset of the summer season, said Ind-Ra, the imposition of stricter lockdowns in major manufacturing states had an impact on demand from the industrial segment which will impact the thermal Plant Load Factor.
Between April 2000 and September 2020, the industry attracted US$ 15.23 billion in Foreign Direct Investment (FDI), accounting for 3% of the total FDI inflow in India.
The statistics below are taken from Industry data available pre-Corona virus impact.
Between April 2020 and December 2020, exports of electronic goods stood at US$ 8.77 billion. Despite the pandemic, the government aims to bolster Make in India and reduce its dependency on imports can be seen from its allocation of Rs. 2,631.32 crore (US$ 361.50 million) to promote electronics and IT hardware manufacturing programs (Modified Special Incentive Package Scheme (M-SIPS), Electronics Development Fund (EDF), and Manufacturing Clusters).
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