Assess the electric wire and cable industry in India
The industry has not been doing well for the past two years and the financial and real estate sector is under stress. Prices are not decreasing, as a result, the condition is likely to affect sales. Businesses in this sector are dependent on three things – industry, infrastructure and electricity boards. Fortunately, the government is spending a lot of money in these categories especially because of the scheme – Power to All. The government has given up 12 crore connections and for the last two months, hence we do see an upward trend in demand and we expect around 8-9 per cent growth.
RR Kabel emphasizes safety and innovation, tell us about what you have introduced lately?
Innovation is there – we have recently introduced the fire alarm cable and a cable of 266 KV range. But, more importantly, we are fighting for the regulation. The country lacks standardisation in terms of making and using cables that are fire safe.
How do you see the business growing in the overseas market as well as in the domestic market?
The year 2019 was not a good year concerning the business, and we see this scenario world-over. Hopefully, this year will be different as measures have been taken to protect the domestic market. But due to the unfortunate Coronavirus issue in China, overseas markets may see a further slowdown before things start to improve later this year.
What’s your comment on ELECRAMA as a business platform?
The best part is that IEEMA is doing well, and is getting approximately 600 people from overseas. I feel, apart from the utilities, ELECRAMA should focus on other sectors as well and real estate of course. The kind of money and time we spend at ELECRAMA, we want ELECRAMA to focus on other sectors as well otherwise it will be difficult for us to participate.