Electrical & electronic industry grew 11.47% in Q3FY14: IEEMA

MUMBAI: The electrical and industrial electronics industry witnessed a growth of 11.47% during October-December 2014 although the sector continued to be plagued by high imports, according to industry body IEEMA. “Although high imports, which was nearly over Rs 2,000 crore in 2014, still plague the industry, policy changes and industry initiatives are eventually showing signs of evolution for the sector,” said IEEMA president Vishnu Agarwal in a statement. “There is a positive momentum,” he added.

Cable, low voltage and high voltage switchgears were the major drivers of the sector, but power transformers and low-tension motors continue to show declining trend, said Indian Electrical and Electronics Manufacturers Association (IEEMA).