 "Slowdown blues for electrical equipment industry as Saubhagya ends")
The electric equipment industry has sought the government’s intervention for relief against pending dues and imminent slowdown. The industry claims it has pending dues of Rs 15,000 crore, mostly from state government departments and is apprehensive that it will increase as economic activity slows because of COVID-19.
In a letter to the power ministry, the Indian Electrical & Electronics Manufacturers Association (IEEMA) requested the Centre to expedite early payment of legitimate bills of equipment suppliers. IEEMA is the representative body for the industry. Business Standard has reviewed the letter. It said the electrical industry is heading towards a slowdown. IEEMA represents
