The government's UDAY scheme for power distribution companies is expected to have a positive impact on the domestic electrical industry, which is facing muted demand, according to IEEMA.
"UDAY is last hope to bring discoms in right shape. This will have a positive impact on the Indian electricals industry," Indian Electrical and Electronics Association (IEEMA) member Harish Agarwal said.
The domestic electricals industry is pegged at USD 35 billion and IEEMA expects it to grow to USD 100 billion, he added.
About 15 states have joined the Centre's electricity distribution utility (Discom) financial turnaround Ujwal DISCOM Assurance Yojana (UDAY) scheme except West Bengal.
The industry will be reviving as contracts worth Rs 1 lakh crore will be signed in the next one year in the transmission and distribution sector, Skipper director Sharan Bansal said.
IEEMA's eastern region committee chairman R K Shah remained optimistic about industry prospects as once health of discoms will improve due to the government scheme, the demand scenario will change.
Power generation sector may take some more time to revive but government focus of T&D will see lot of investments flowing in, he said.
IEEMA has also opened two new divisions -- smart grid and renewables -- and industry is working towards coming out with solutions for the new emerging opportunities.
The body further said a show on electricals 'Elecrama 2016' will be held in Bengaluru between February 13 and 17.
