MUMBAI, 28 DECEMBER, 2019 (GPN): During the past few weeks/months the Government had genuinely tried to lubricate the economy, the results of which can be expected only in the first quarter next year. Markets are likely to remain sideways with upward bias on high hopes of revival package in the budget.The GDP growth rate for the second quarter dropped to its lowest in six years.India’s GDP for the second quarter of the financial year 2019 (Jul-Sep 19) was 4.5 – lowest since 2012-13.

1. Budget 2020-21 will be presented soon. What would be your suggestions to the government for boosting demand for wires & cables?

As you all know the government has recently announced various measures to bring glory in the Indian economic scenario to achieve the $5-trillion mark for the economy just ahead of the Budget 2020-21. My suggestion would be to make agreeable investments in the power sector to achieve 100% electrification in our country.  Also better investment in the power sector will definitely boost the demands for the wires and the cables industry. We are optimistic about the growing market of house wires as they are energy-efficient and meet the highest level of safety standards for domestic and commercial usage.

2. How is the wires & cables market in India at present? What is driving the demand?

The wire and cable industry in India has been evolving very well because it is positively connected with the growth of the economy. The government intends to spend Rs 100 lakh crore on infrastructural development in the next five years. As we all know, the wire and cable industry is directly connected with infrastructural development, which includes railways, metros, power, renewable energy, hospitals, government exhibition centres, public centres and national highways, are bound to push up the demand for wire and cable in India. The boom in the industrial sector also increases the demand for wires and cables. In the last three years, huge investments have been made in infrastructural development. Up-gradation of motor vehicle fuel to BS6 has prompted refineries to upgrade themselves with an investment of approximately Rs. 2 lakh crore.

3. Which are the new areas of opportunities that Indian wires & cables industry needs to look to tap?

There are so many new areas of opportunities coming up right now in the Indian wires and cables industry. The real estate sector, comprising residential, commercial, hotels, hospitals and other infrastructural projects are offering big investment opportunities to the wire and cable industry. The biggest investment opportunity comes from metros and railway electrification. Several kilometres of metro lines in Phase-4 of the Delhi Metro Project and 7 lines of the Mumbai Metro project are being laid down. Every big city in India will soon have a metro. In addition, the development of new airports has also brought in another investment opportunity for the industry. Many existing airports have been upgraded, and new airports are being built. Another major investment area is the renewable energy sector. Investments are heavier in the transmission and distribution sector, where we have to get power from different sites and strengthen the distribution system in cities through underground cable network.

4. How will rise in demand for electric vehicles aid growth of wires & cables industry?

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5. India aims to make manufacturing a $1 trillion sector by 2025. How important will be the role of wires & cables industry in achieving this target?

With the aim to make manufacturing a $1 trillion sector by 2025 the wires and cables industry will be playing a major role in the Indian economy.  Technological advancement and better investment in the wire and cable industry will help in accelerating the growth of the economy. Indian cities will witness huge expansion in underground cables.

6. On the eve of Elecrama 2020, would you like to give any message to exhibitors, visitors and the industry (in general)?

As you all know ELECRAMA is a platform to connect the world with Indian industry in respect of technology, new trends and innovation for future energy transition. It is also a stage where all global leaders can meet and share their ideas to develop cost effective solutions for the world.

7. What are your growth plans for KEI Industries?

We are expecting to grow more than 15 percent in the coming years. Our company had witnessed growth substantially in the past 2-3 years. We at KEI Industries have grown at an annualized rate of 73 percent over FY14-19 and is the fastest growing cable-and-wire maker, supported by strong institutional and retail sales as well as exports. We have significant PAN-India presence in the retail division and have achieved phenomenal progress in this segment over the past few years. We have increased our distribution strength to 1450 channel partners from 1284 in the previous year and the retail sales have grown to almost 43%. We also offer three wires under the house wires segment namely; Homecab-FR, Conflame-FRLS and Banfire-ZHFR. ENDS