Boost to Make in India: Genesis, Gas Solutions, a subsidiary of Vikas Lifecare, has signed a pact with Indraprastha Gas to set up an built-in smart meter manufacturing plant for Rs 110 crore. According to an alternate submitting, it will likely be India’s first Integrated State-of-the-Art Smart Meter Manufacturing Plant to manufacture Diaphragm Gas Meters outfitted with the most recent applied sciences.
Vikas Garg, chairman of Vikas Group, mentioned that the joint venture can be a recreation changer as it can revolutionize the smart metering expertise within the nation and can be a step ahead in direction of AtmaNirbahar Bharat. “The joint venture between IGL and Genesis has been announced is being announced following the spirit of government’s Make in India – Make for World initiative, shall be instrumental in a paradigm shift in favour of domestic players,” he mentioned.
The meters will present options to handle shoppers’ vitality demand and metering with utmost accuracy and on a real-time foundation, the corporate mentioned within the submitting. The plant can have an put in capability to manufacture 10 lakh meters yearly. It will turn out to be operational by April subsequent 12 months.
Notably, the Gas Metering Solutions market is presently dominated by offshore suppliers. Pawan Kumar, director (industrial), IGL, mentioned that the JV is in keeping with the corporate’s mission and imaginative and prescient for inexperienced, clear and sustainable progress.
“This JV will assist in import substitution and can give impetus to the Make in India initiative in Amrit Kaal (Azadi ka Amrit Mahotsav),” he mentioned. In the proposed JV, IGL and Genesis can have fairness participation within the ratio of 51:4
