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Crif, Sidbi launch new edition of Industry Spotlight report

India is a major exporter of switchgear and control gear, transformers and parts, industrial electronics, cables, transmission line towers, conductors, rotating machines, among others. (File Photo: Reuters)Premium
India is a major exporter of switchgear and control gear, transformers and parts, industrial electronics, cables, transmission line towers, conductors, rotating machines, among others. (File Photo: Reuters)

  • The MSME borrower segment made up for 95% of total number of loans to the sector and 30% of total amount of loans as of March 2021. Micro segment borrowers constitute 83% in disbursements in FY21

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MUMBAI: Crif High Mark and Small Industries Development Bank of India (Sidbi) has launched its fourth edition of ‘Industry Spotlight’ that analyses the electrical machinery industry.

According to the report, the total amount of credit availed by the industry as of March 2021 stood at 94,800 crore, an increase of 3.2% year-on-year. Number of active loans in the sector stood at 199,490 as of March 2021. The industry has observed a quarterly decline in non-performing assets (NPAs) since December 2018. Year-on-year, NPAs improved 5.83% in March 2021 and stood at 13.6%; while it reduced 0.35% sequentially.

“India is a major exporter of switchgear and control gear, transformers and parts, industrial electronics, cables, transmission line towers, conductors, rotating machines (motors, AC generators, and generating sets) and parts. As per the report, the export credit as of March 2021 stood at 2,200 crore with a nearly 8% q-o-q decline, and 6% y-o-y decline," it said.

Majority of the overall credit by volume is dominated by MSME borrowers. The statement said that the MSME borrower segment made up for 95% of total number of loans to the sector and 30% of total amount of loans as of March 2021. Micro segment borrowers constitute 83% in disbursements in FY21.

Navin Chandani, managing director and chief executive, Crif India, said, “The Indian Electrical Machinery Industry has a diversified, mature and strong manufacturing base supported by a robust supply chain. The industry contributes immensely to the economy through its contribution to GDP, exports, and employment generation."

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