India's Power Sector: Limited Impact from Easing Chinese Curbs, Says PL Capital

• PL Capital's Amit Anwani believes easing restrictions on Chinese firms won't significantly alter India's power sector.
• The finance ministry is reportedly considering lifting five-year-old curbs on Chinese firms bidding for government contracts.
• Restrictions, imposed in 2020 after border clashes, effectively blocked Chinese firms from $700-$750 billion in contracts.
• Anwani notes a sharp decrease in reliance on Chinese equipment by Indian private power producers due to security concerns.
• BHEL has a strong order book exceeding ₹2 lakh crore, with limited impact expected from potential Chinese imports.

Why It Matters: Easing Chinese curbs may have limited, selective impact on India's power sector due to existing industry changes and security concerns.