OCTOBER, 20269India'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. Connected elevators in India are gaining importance as equipment manufacturers explore how artificial intelligence (AI), real-time monitoring, and predictive maintenance can improve lift reliability. This 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. Chandigarh is strengthening its industrial presence with a Rs 50 crore investment by JM Frictech India Ltd. The development could support the city's growth as a manufacturing hub in North India. The company's new facility will expand its manufacturing capacity, with full operations expected over the next six to eight months. Auto component manufacturer JM Frictech India Ltd. (JMI) is setting up its fourth manufacturing facility in Chandigarh. The plant is being commissioned in phases, starting with warehousing and logistics before manufacturing activities gradually increase. The investment is expected to bring the company closer to customers in northern India and support its expansion in the tractor, construction equipment, and other off-highway segments. INDIA'S BESS CAPACITY COULD HIT 302 GWH BY FY32: WHAT'S NEXT?IS NTPC BUILDING A NEW ENERGY MODEL FOR INDIAN INDUSTRIES?KONE TARGETS GROWTH IN CONNECTED ELEVATORS IN INDIANSAM 2.0: CAN INDIA BECOME A GLOBAL 3D PRINTING HUB?IS CHANDIGARH EMERGING AS A NEW MANUFACTURING HUB IN NORTH INDIA?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. The expansion could help the company identify technical issues earlier, reduce equipment downtime, and improve service response, while giving building owners greater visibility into elevator performance.
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