Electrical equipment industry growth slows in 2011-12: IEEMA

The overall growth of the domestic electrical equipment industry slowed sharply in 2011-12, hit by sluggishness in the power sector as well as rising imports, industry body IEEMA said. Indian Electrical and Electronics Manufacturers' Association (IEEMA) said that growth declined to 6.6 per cent last fiscal from 13.7 per cent in 2010-11. The figures are based on the production and sales data of its member entities, which the IEEMA claims account for about 95 per cent of the electrical equipment industry. Sluggish growth in the power sector and the escalating imports of electrical equipment is significantly impacting the commercial viability of the domestic electrical equipment industry, the industry grouping said in a statement. "Growth in t.....