Hamza Arsiwala is president of the Indian Electrical and Electronics Manufacturing Association (IEEMA). According to him, India’s remarkable rise as a major player in the global energy economy is the result of robust economic growth and visionary policy decisions. The expansion of the energy sector can largely be attributed to the capabilities of India’s electrical and allied electronics manufacturing industry.
“The energy sector in India is poised to witness significant growth, with an expected influx of around $200 billion in investments over the next three to five years. Notably, the approval of one solar city per state and the ongoing implementation of approximately 45 solar parks are expected to lead to the construction of 35-40 GW of solar capacity in the coming years,” he says.
On the policy front, IEEMA is advocating for a revamp of duty structures to align with the Aatmanirbhar Bharat initiative. It has expressed optimism for policies supporting the adoption of quality control orders and is seeking government assistance in technology knowhow and investment through government-to-government interactions. Further, IEEMA has urged for a reassessment of free trade agreements (FTAs) to rectify trade distortions, advocating for FTAs that prioritise India’s competencies and emerging destinations. Lastly, the association calls for a review of the identification of major equipment and components available domestically to reduce unnecessary imports in power projects.
About BID 2024, Arsiwala says, “Over 250 exhibitors contributed to the event’s success and ensured it was a diverse and comprehensive exhibition. The event generated $1 billion in business inquiries. The hosted buyer programme featured over 200 international buyers and 100 domestic buyers, reflecting the event’s global appeal.”
For Arsiwala, the entire journey of building Stelmec and witnessing its rise to its current status has been extremely precious and memorable. “I have always tried to play the role of a guide and a mentor, positioning my talented workforce to lead with accountability, responsibility and confidence, keeping the best interests of the organisation in mind and ensuring that our growth objectives are not only met but exceeded,” he adds. He believes in empowering people by providing them the right opportunities to grow within a cohesive ecosystem that is rewarding and nurturing in all aspects.