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Contribution of infrastructure development in Indian economy on electronics and electrical company in the last decade

INTRODUCTION

A nation’s infrastructure development plays a significant role in its economic growth. A fast growing economy warrants an even faster development of infrastructure. Power is an essential requirement for all facets of life and has been recognized as a basic human need. It is a critical infrastructure on which the socio-economic development of a country depends. The availability of reliable and quality power at competitive rates is very crucial to sustain growth of all the sectors of the economy, that is, primary, secondary and tertiary. This helps to make domestic markets globally competitive and thus improve the quality of life of the people. Basically saying, the economic growth and the overwhelming need for power and energy is kind of having a symbiotic relationship. Both needs to go hand in hand and thus the failure in one of the sectors can hamper the other drastically. For instance the power grid failure of three transmission grids -- Northern, Eastern and North-eastern leaving the lives of over 67 crore people in 21 states paralysed and also crippling the economy as lot of industries suffered because of it. India's torrid pace of economic growth has helped catapult the nation into being a dominant geopolitical force. However, its failure to provide enough electricity is hurting economic growth, and public officials are increasingly concerned that the country's antiquated power grid architecture could threaten its rapid ascent. Over the past few years, the Indian government has teamed with private companies in an effort to construct new power plants and improve electric grid functionality. And the recent chain of events has accelerated the process even further. The present buoyancy in the Indian Economy would create demand for electrical products through industrial growth and general economic development. The power sector...