The Uttar Pradesh government has signed a memorandum of understanding (MoU) with the centre for 'power to all' scheme. Also passed a resolution where transformers have to be replaced within 24 hours for urban areas and 48 hours for rural areas.
In an interview to CNBC-TV18, Jitendra Mamtora, Chairman of Transformers and Rectifiers (India) spoke about the latest happenings in his company and also shared his outlook on the resolution passed to replace transformers in UP.
Talking about the resolution passed by the UP government, he said it is possible to replace transformers in lesser time if planned well.
He further added that demand for transformers is driven by power consumption. Therefore, seeing increased demand for transformers.
Speaking about business, he said transmission companies and steel industry are key clients. However, the company is working on increasing exposure to renewable.
Watch accompanying video for more details.
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