9OCTOBER 2026India's BESS capacity is projected to grow rapidly as the country expands renewable energy and strengthens grid reliability. A recent Nuvama report forecasts a 91 percent compound annual growth rate (CAGR) between FY26 and FY32E. Cumulative battery energy storage system (BESS) capacity could rise from 6.3 GWh to 302 GWh during this period.Annual additions are expected to increase from 5.7 GWh in FY26 to 56 GWh by FY32E. The Central Electricity Authority (CEA) estimates that India will require 236 GWh of BESS capacity by FY32 and 1,840 GWh by 2047. However, the sector's expansion will depend on domestic manufacturing, falling battery costs, and policy support. Nuvama noted that imports currently meet 89 percent of requirements, creating an opportunity for local manufacturers to expand production. NTPC's new energy model could change how industrial players access steam and electricity. The state-run power company has invited Expressions of Interest (EoI) from commercial and industrial entities willing to invest 26% equity in co-generation projects. The initiative aims to develop plants that supply both steam and electricity to industrial users. These projects will operate alongside integrated power supply arrangements combining coal, renewable energy, and Battery Energy Storage Systems (BESS). NTPC announced the initiative to explore partnerships that address industries' growing focus on energy security, cost optimization, and sustainability. The company believes co-generation can improve energy efficiency by producing steam and electricity through an integrated system. India is preparing the next phase of its 3D printing strategy to expand industrial use and strengthen domestic manufacturing. Since February 2022, the National Strategy for Additive Manufacturing (NSAM) has trained over 1.54 lakh people, supported 56 start-ups, and helped develop 65 indigenous technologies.The Ministry of Electronics and Information Technology (MeitY) is now conceptualizing NSAM 2.0 to accelerate innovation, boost commercial adoption, and improve India's position in the global additive manufacturing market. The proposed strategy builds on earlier efforts to develop local technologies, skilled workers, and manufacturing capabilities. HAL Q2 earnings could show strong growth in the September quarter, with Hindustan Aeronautics Limited (HAL) expected to outperform several defense companies. According to JM Financial's earnings preview, HAL's revenue may rise 22.3 percent year over year. Bharat Electronics (BEL), Data Patterns, and ideaForge Technology are also in focus as investors assess revenue growth, margins, and order execution.India's defense manufacturing sector is expected to follow its usual quarterly pattern. The second quarter has historically accounted for around 19 percent to 20 percent of annual execution across the companies covered by the brokerage.JM Financial expects HAL to report revenue of Rs 8,106.1 crore, up 22.3 percent from the year-ago period. Deliveries of the LCA FOC Mk1, HTT trainer aircraft, and Dhruv NG helicopters completed in September are expected to support growth. INDIA'S BESS CAPACITY COULD HIT 302 GWH BY FY32: WHAT'S NEXT?IS NTPC BUILDING A NEW ENERGY MODEL FOR INDIAN INDUSTRIES?NSAM 2.0: CAN INDIA BECOME A GLOBAL 3D PRINTING HUB?HAL Q2 EARNINGS MAY RISE 22 PERCENT: 3 OTHER DEFENSE FIRMS TO WATCHConnected elevators in India are gaining importance as equipment manufacturers explore how artificial intelligence (AI), real-time monitoring, and traffic. Leisure travel is growing, too, highlighting India's importance to the airline's network. Malaysia Airlines Group President and CEO Nasaruddin A Bakar said partnerships could help the carrier expand its reach, provided they benefit both parties. KONE TARGETS GROWTH IN CONNECTED ELEVATORS IN INDIApredictive maintenance can improve lift reliability. This shift highlights how smart technology is transforming industrial equipment management and improving operational efficiency across sectors.KONE's inauguration of the country's first digital experience center in Pune on October 9, 2026, highlights this shift towards technology-driven building operations. The development comes as KONE Elevator India plans to double its connected elevator fleet from approximately 50,000 to 100,000 units within a year.
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