HVDC upgrades and data center demand boost India capital goods
Big news for India's capital goods industry: a major boost is on the way, thanks to upgrades in power transmission and a huge jump in data center demand.
A new report from 360 ONE Capital points out how high-voltage direct current (HVDC) technology is key for bringing more renewable energy into the grid and making our power infrastructure smarter.
Local manufacturing and project execution crucial
India's HVDC capacity is set to jump from 34.5 GW in FY27 to 55 GW by FY32, with even more growth expected after that.
Data centers are also booming, with capacity likely rising from under 2 GW now to as much as 18 GW by 2030.
This means big opportunities for companies making transformers, switchgear, and other grid gear, but there are challenges too, like project delays and rising costs.
The report says investing in local manufacturing and strong project execution will be crucial if India wants to make the most of this energy upgrade.