Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry? 

I am a Mechanical Engineering graduate from IIT-BHU, Varanasi, and I bring over two decades of diverse experience in the power and engineering sector. Currently, I am working with BHEL in Project Engineering Management at Noida as a Senior Deputy General Manager, where I lead a team of engineers handling project engineering for water treatment packages in power projects.

Before this, I spent around five years leading teams working on FGD and material handling packages. Alongside my core responsibilities, I have been actively involved in optimization efforts and have led multiple Quality and Business Excellence initiatives.

A significant part of my technical expertise comes from my time at the BHEL Hyderabad unit, where I worked extensively on pulverisers, which are a key auxiliary of boilers. During this phase, I handled a wide range of responsibilities including customer outreach for business development, design and engineering, vendor evaluation, site supervision, troubleshooting, retrofitting, and performance testing at project sites.

Over the years, I have also contributed to the knowledge ecosystem through five copyrights and by serving as a company-nominated member in four sectional committees of the Bureau of Indian Standards. I am recognized as an expert on the “SanRachna” Technology Innovation Platform, an initiative by BHEL under the Department of Heavy Industries, Government of India.

In addition, I regularly engage in knowledge sharing through lectures at ESCI Hyderabad and NPTI Bangalore, and I also serve as an in-house faculty. Mentoring students at IIT-BHU, Varanasi, through the Student-Alumni Interaction Cell is another area I actively contribute to.

 

Q2. What is the most important structural shift happening in India’s power equipment ecosystem right now — and why does it matter more than it did five years ago? 

From my experience, one of the most important shifts in India’s power equipment ecosystem is the transition from what was largely a monopoly about two to three years ago to a more competitive landscape with three to four major players in the utility segment. In the industrial segment as well, I now see more players catering to smaller rating boilers and turbo-generators across different fuel types.

While renewable energy is gaining traction, I still see coal continuing to play a critical role in India’s energy security. Going forward, the focus has to remain on improving efficiency, reducing emissions, and optimizing logistics to ensure a balanced and sustainable transition. At the same time, achieving net-zero targets will require nuclear energy to play a meaningful role in the overall power generation mix.

I am also observing that established players are exploring capacity expansion in thermal power, while the opening up of nuclear power generation to private players is expected to have a significant impact on the ecosystem.

Additionally, there is a clear directional shift toward emission control equipment, clean technologies, renewable obligations, and improvements in thermal cycle efficiency, land use, and fuel use. The increasing use of artificial intelligence and smart control systems further indicates how the sector is evolving.

With multiple new projects coming up and new ventures being formed, I believe these shifts are creating strong opportunities for the industry to adapt and evolve.

 

Q3. What have been the biggest execution bottlenecks in scaling FGD adoption across India, and what signals show the market is maturing? 

In my view, the FGD landscape has undergone a notable shift after the notification dated 11 July 2025 by the Ministry of Environment, Forest and Climate Change, where more than 75% of power generating units were exempted under the ‘C’ category.

However, for the projects that are already under execution, I continue to see several bottlenecks delaying commissioning. These include rising costs, a limited vendor base, supply chain challenges linked to Make in India requirements, and execution uncertainties in brownfield projects due to space constraints.

Looking at the progress over the past decade, it is clear to me that there is still considerable ground to cover before Indian thermal power plants become fully compliant.

That said, with the reclassification in July 2025, the overall requirement for FGDs has reduced, making the landscape more manageable. Based on learnings from the past decade and improvements in geopolitical dynamics such as Indo-China relations, I expect execution to become more efficient going forward.

 

Q4. What role do you see for circular water systems and zero-liquid-discharge models in future thermal and industrial plants? 

From both a regulatory and operational perspective, I see increasing momentum toward circular water systems and zero-liquid-discharge (ZLD) models in thermal and industrial plants.

Traditionally, effluent treatment involved discharging treated water outside the plant boundary after meeting environmental norms. Each type of effluent would undergo treatment for oil removal, suspended solids, dissolved solids, and pH correction, with all treated streams collected and verified before disposal.

However, ZLD represents a more integrated approach. In my experience, it focuses on minimizing water consumption and waste generation, optimizing process selection and operational philosophy, and ensuring that treated water is recovered and reused. The ultimate objective is to ensure that no effluent, except stormwater, is discharged outside the plant boundary.

 

Q5. What supply-chain disruptions have had lasting impact, and what resilience strategies actually work at scale? 

Over the years, I have seen several supply chain disruptions that have had a lasting impact. These include geopolitical events such as the Russia-Ukraine conflict, restrictions on sourcing from countries sharing land borders with India, and the long-term effects of COVID-19, including the broader acceptance of hybrid working models even in non-IT sectors.

At the same time, the industry’s shift toward clean coal technologies, emission control systems, and sustainable practices has also influenced supply chain priorities. More recent developments such as global trade tensions, free trade agreements, and instability in West Asia are further reshaping the landscape.

What I observe now is a move toward a “new normal” that is quite different from what we saw in the 2010s.

To build resilience, organizations are increasingly adopting advanced technologies, including AI, across operations and manpower planning. There is also a stronger focus on predictive alignment of demand and supply, which I believe is essential to managing future disruptions effectively.

 

Q6. Where are you seeing AI create the most meaningful shift in how large power and auxiliary projects are engineered and executed today? 

In my experience, AI is beginning to make a meaningful impact, particularly in standardizing modular layouts and processes. This helps ensure that repetitive deliverables are completed within timelines and with minimal errors.

One of the most significant areas where I see AI creating value is in Operations and Maintenance. There have already been instances, such as tenders floated by UPRVUNL, where AI-based solutions are being explored for maintenance of coal handling plants.

Another key area is the flexibilization of thermal power plants to handle variability introduced by renewable energy integration. This places additional stress on equipment, and I see strong potential for AI-driven predictive maintenance and operational optimization in this context.

Beyond this, AI is increasingly being applied in manpower planning, financial management, inventory control, construction tracking, and overall project management. From what I see, organizations have already started adopting AI in these areas and are actively exploring broader applications.

 

Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management? 

If I were evaluating companies in this sector as an investor, I would focus on a few critical aspects. Given the long gestation nature of the power sector, maintaining healthy cash flow, profitability, and timely contract closure is essential.

I also believe that having well-structured contracts is critical for both buyers and sellers to safeguard their interests.

Another important area I would evaluate is workforce capability. With experienced professionals from the thermal sector gradually exiting, there is a growing need for upskilling and reskilling. At the same time, new talent entering the value chain must be trained to meet the evolving demands of the sector.

Ultimately, I would assess how effectively an organization manages these dimensions. In my view, the real differentiator lies in their ability to strengthen internal systems, mitigate risks, and consistently create sustainable value for all stakeholders.