India Eases Power Equipment Bidding
Analysis based on 8 articles · First reported Jul 03, 2026 · Last updated Jul 04, 2026
The decision by India to allow four Chinese-linked power equipment manufacturers to bid on critical government projects is expected to increase competition in the Indian power sector. This has already led to a negative market sentiment for domestic players like Hitachi — Hitachi Energy, Siemens Energy, GE Vernova, Bharat Heavy Electricals Limited, Transformers and Rectifiers (India), and CG Power and Industrial Solutions, whose shares saw significant drops.
India has granted a two-year exemption to four Chinese-linked power equipment manufacturers with local factories—TBEA Energy, Nanjing Electric India, New Northeast Electric India, and Taikai Electric — Taikai Electric (India)—allowing them to participate in government tenders for critical power infrastructure projects. This move, formalized by a India — Ministry of Finance (India) order on June 24, follows a request from the India — Ministry of Power to address equipment needs for India's expanding transmission network, which is crucial for meeting rising electricity demand and integrating renewable energy capacity. The exemption is limited to these four firms and is not a broader easing of procurement rules, which were tightened after the 2020 border clash with China. While the decision aims to support India's power sector, it has drawn criticism from the India — Indian National Congress and led to a decline in shares of domestic power equipment manufacturers due to concerns about increased competition.
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