Progress of Smart Meters Installation in India

1. Capacity Development – Smart Meters

Till date nearly 222.3 Million consumer smart meters have been sanctioned for installation in India. Of this approximately 134 Million have been awarded. Of the awarded smart meters, nearly 18.5 Million have been installed as of Dec’2024.

2. Government Announcements & Achievements

Central Government

Government of India announced a gross budgetary support of INR 23000 crores to install 250 Million prepaid smart meters by 2027.

State Government

Till date, 40 Mn smart meters have been sanctioned for eastern region states, of which 19 Mn have been awarded & approx. 6 Mn has been installed

3. Market Insight

• i. Player wise capacity buildup updates

  • IntelliSmart installed approximately 66,000 new smart meters in December 2024 in a standalone capacity

  • Adani Transmission added 7973 smart meters in a standalone capacity in December 2024.

• ii. Merger & Acquisition

  • Kaynes Technology (A Mysore based electronics manufacturer) acquired 100% stake of smart meter company Iskraemeco India for USD 5.13 Million. Iskraemeco India is engaged in supplying, installing, operating & maintaining smart meters.

    For more updates on power industry, visit https://omnicoreplus.com/

• iii. Player wise key investment updates

  • SAT Private Limited secures USD 2.5 Million investment for smart meter technology

  • Adani Plans to invest INR 21 Billion for providing smart metering solutions in India

  • Iskrameco invests close to INR 1000 crore to establish an integrated hardware & software facility for smart metering solutions

• iv. Funding Updates

  • Kimbal Technologies (a Delhi based startup) bagged USD 5 Million from Niveshaay for smart meter solutions

• v. New Orders

  • CyanConnode, a provider of narrowband radio frequency (RF) smart mesh networks based in Cambridge, UK, has been awarded a contract for the supply of 6.5 million communication modules for smart metering in India