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Indian Industrial Firms Now World’s Best At The Back Of Electrification Push; Stocks See Substantive Rise
The NDA government, when it assumed office, set an ambitious target of total electrification of the country (Priyanka Parashar/Mint via Getty Images)
Indian industrial firms are having the time of their lives, thanks to Prime Minister Narendra Modi’s push for absolute domestic electrification, and curbs on pollution imposed by the Chinese government, a report by Business Standard has said.
Modi’s push for total electrification of the country has resulted in a massive demand for electrical infrastructure and graphite electrodes. As a result, manufacturers such as HEG Ltd, Graphite India Ltd. and Finolex Cables are doing brisk business.
Of the 15 best performing stocks in Asia over the last five years, eight are from the Indian industrial sector.
Since 2014, India added 100,000 circuit kilometres of interstate transmission capacity, according to a 5 June statement issued by the power ministry. On account of this, the turnover and demand for electrical wiring shot up by leaps and bounds.
The central government has also pledged to spend $88 billion this financial year on roads, railways and other infrastructure projects.
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