Electrical Companies in India: an overview
India's listed electrical-equipment makers include some of the market's most valuable industrial companies. In AMFI's list of average market capitalisation for the six months to 30 June 2026, ABB India, Polycab India, Hitachi Energy India, Siemens, CG Power, BHEL, Siemens Energy India and GE Vernova T&D India each averaged more than ₹1 lakh crore. Several of these are Indian arms of foreign groups. Siemens Limited now reports through its Digital Industries, Smart Infrastructure and Mobility businesses, while its former energy business trades separately as Siemens Energy India. The manufacturers' association IEEMA, set up in 1948, counts 958 member companies.
Power-plant and grid equipment forms one large group. Bharat Heavy Electricals, a New Delhi-based public-sector company making equipment since 1964, says it has installed more than 200 GW of generating capacity in India and abroad. Hitachi Energy India in Bengaluru belongs to a group that sells transformers, HVDC systems and high-voltage switchgear. Among Indian transformer makers, Transformers and Rectifiers (India), in business since 1981, has its corporate office at Moraiya near Ahmedabad, and Voltamp Transformers of Vadodara builds power and distribution transformers up to the 220 kV class. Kirloskar Electric, established in 1946 and based in Bengaluru, describes itself as a pioneer of electrical manufacturing in India.
Wires and cables are the second large group. Polycab India is registered at Halol in Gujarat and run from a corporate office in Mumbai. KEI Industries began in 1968 as a partnership making rubber cables for house wiring, and Finolex Cables grew out of a cable shop opened in Pune in 1945. Finolex and R R Kabel have since added fans, lighting and switches. Consumer electricals overlap with this group: Havells in Noida, Crompton Greaves Consumer Electricals and Bajaj Electricals in Mumbai, Orient Electric in New Delhi and V-Guard in Kochi all sell fans, lighting and household electrical products.