ABB: India Poised to Become Our Third-Largest Market for Electrification

A senior executive from Swiss-based ABB stated that India is set to become the company’s third-largest market for its electrification division. The executive also noted that India and China are expected to grow at similar rates.

Giampiero Frisio, president, electrification business area, and member of the group executive committee of ABB, said, “India is going to become our third-largest market (for the electrification business),” he added, “it could become either this year or next year.”

The senior executive expects India to also develop as a hub for ABB’s re-exports to “some Middle East and some parts of Asia and Africa.” At present, these re-exports from India are about 10-15 per cent. Frisio added that catering to India’s own demand remains the focus. “After the pandemic, we are seeing that the Indian market is picking up in a very, very good way,” he added.

Frisio also remains unfazed by the new presidency in the US and the likely de-focus from energy transition. He said, “There is a lot of investment that was coming from the Inflation Reduction Act, done by the previous administration, that is still there. It was not cancelled. There will be, for sure, more gas, and what we can do is to help the oil and gas industry become leaner and cleaner. Eventually, from the electrification standpoint, there will also be a balancing from the gas economy companies.”