Introduction to Topic
India is one of the developing countries & at the same times a fastest rising economy in the world. India along with the BRIC countries is considered as the back bone of the world’s economy. This attraction is partially due to the lower cost of manpower and good quality production. India is now the eleventh largest economy in the world, fourth in terms of purchasing power. It is poised to make tremendous economic strides over the coming years, with significant development already in the planning stages. For development of a country, infrastructure plays a vital role.
With the opening of the Indian economy in 1990, many multinational / transnational companies were eager to invest in India. India being the second largest population of the world is the largest market for foreign multinationals. For this reason development of the infrastructure was need of the hour for the economy. ENERGY development is the key aspect of infrastructure development & demand of the developing economy. Moreover, fulfilling the energy requirement of ever growing population is herculean task. The infrastructure deficit in India is immense & India is power stressed. The increasing vibrancy and flexibility of the Indian economy is not matched by the power sector. India was heavily relied on Conventional energy resources like thermal energy. The conventional energy development mainly depends on availability of resources like oil, coal, coke etc. Even nuclear power generation depends on availability of uranium & platinum. Conventional energy generation also results in higher carbon emission & pollution. Destroying the wastes from the conventional energy generation is the major task ahead of the country. Renewable energy Resources give the best possible solution for this problem. Renewable energy resources can be defined as the energy resources which can be replenished, as & when they are consumed e.g. solar, wind, small hydro power, biogas etc. Knowing the potential of this form of energy resources, Indian government established a separate ministry for Renewable energy resources in 2006. Perhaps, India is the only country having separate ministry for renewable energy. Since then renewable energy market is an upcoming market in Indian power sector. With boom in the renewable energy market, there is also a rise in demand for related manufacturing equipment industries. Transformer is one of such equipments required in power systems for transmission of power. Our aim in this project is to make a Market Potential Impact Study for transformer for renewable energy markets. 1.2
The first and a very important step in market research is formulating a research problem. It is the most important stage as if the problem is wrongly defined the subsequent stages will be of no good for the purpose for which the research is being conducted, at the same time the problem must not be defined too broadly or too narrowly. In this Project we are identifying the gap in the organizations portfolio of Transformer Business in India. We have identified that organization has no presence in the low voltage, distribution class transformer markets in India. Looking at the growth rate of Renewable energy markets and governments initiative towards the renewable energy, our main objective is to ascertain its impact on transformer business.
Identifying sources of information
There are two type of data resources used for the research primary and secondary data sources. Primary research data :
Primary research involves getting original data directly about the product and market. Primary research data is data that did not exist before it is designed to answer specific questions of interest to the business. • One to one interaction:
Idea generation of the project is drawn from the one to one interaction with the experienced colleagues and...
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