New Delhi, April 3 -- The capital goods sector in India has witnessed significant growth in recent years, playing a crucial role in driving industrial development and economic progress.

According to data from the Ministry of Heavy Industries, production in this sector has nearly doubled from Rs 2,29,533 crore in 2014-15 to Rs 4,29,001 crore in 2023-24.

India now stands as the third-largest market for construction equipment globally, with the electrical equipment industry experiencing consistent double-digit growth in power equipment, particularly in transmission equipment and transformers.

This growth has been fueled by both domestic demand and expansion into international markets, according to the Indian Electrical and Electronics Man...