Indian Wires and Cables Industry Poised for Robust Growth

The Indian wires and cables industry is set for remarkable growth in the coming five years, as detailed in a report by Ambit Capital. After a decade of mid-single-digit progress, key sectors are now rallying demand, bolstered by burgeoning export potential.

A significant portion of the demand stems from real estate and power sectors, which comprise 50% of the end market. The report emphasizes the vital nature of these markets to the growth trajectory, particularly with the upswing in new real estate projects, T&D infrastructure investment increases, and expansion in renewables and emerging sectors such as data centers.

Real estate accounts for about 35% of wire and cables applications, and the segment's contribution is expanding with increased digitalization, positioning data centers as a significant demand force. Additionally, India's export sector is robust, marking an 18% CAGR increase over five years to reach USD 2 billion. Capturing opportunities in low and medium-voltage cables, Indian companies are strategically positioning to enhance their global market share.

(With inputs from agencies.)