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India power grid capex set to hit INR 9 trillion by 2032 sparking massive equipment demand
Economy
Published on 24 April 2026
Transformers are the bottleneck with lead times stretching
India’s power transmission and distribution sector is forecast to deploy about INR 9 trillion in capex by 2032, supported by growing grid needs and global demand—especially from the US and Europe. Orders may slow temporarily due to high capacity utilization and longer delivery times for high-voltage transformers, but the overall outlook stays positive for Indian manufacturers.
- INR 9 trillion capex projected for India’s T&D sector by 2032
- Short-term ordering dips linked to high capacity utilization
- High-voltage transformers face longer lead times, delaying projects
- US and Europe demand could boost Indian equipment exports
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times