Good Opportunity for Cable & Wire Industry

Cable & Wire Fair, which has undisputedly become India’s leading trade fair for the wire and cable industry will be held from November 6 to 8 in New Delhi.

The most illustrious wire and cable manufacturers, wire and cable machinery manufacturers and suppliers of materials for the wire and cable industry take pride in exhibiting their products and services at Cable & Wire Fair, which has undisputedly become India’s leading trade fair for the wire and cable industry.

Cable & Wire Fair 2017, which saw 10,800 visitors, 164 exhibitors, over 300 conference delegates and representations from 19 countries, had spectacular success in providing the participating wire and cable companies with a platform for advertising and networking.

Like the Cable & Wire Fair held in 2017, this year’s fair aims to give players from various segments of the wire and cable industry a good opportunity to network and to exhibit their products. It will make real business happen – something that will eventually push up economic growth. Approximately 200 exhibitors from around 25 countries will showcase their products and services at this important event. Valuable knowledge and information will be shared at the event’s collocated conference and CEO conclave.

Pragati Maidan, Delhi, provides the venue for this year’s Cable & Wire Fair. Delhi is India’s top venue for prestigious events, mainly because it is the country’s capital territory and all policy initiatives are launched here.

Growth Drivers

According to Institute for Energy Economics and Financial Analysis (IEEFA), India’s gross domestic product (GDP) will double over the next 10 years, growing at a rate of 7 per cent per annum. Over this period, the demand for electricity is expected to nearly double. This growth rate augurs well for the development of the wire and cable industry in India, which has already crossed Rs 60,000 crore.

The wire and cable market in India, which comprises nearly 40 per cent of the electrical industry, is growing at a CAGR of 15 per cent – thanks to the growth of the power and infrastructure sectors. The recent policy and regulatory initiatives and government schemes like Ujwal Discom Assurance Yojana (UDAY), Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated Power Development Scheme (IPDS) and Pradhan Mantri Sahaj Bijli Har Ghar Yojana have given the market a major boost. It may be mentioned that under DDUGJY, the government has envisaged the electrification of all villages. With the outlay of Rs. 2.6 lakh crore announced by the government for the five-year period ending FY2022, the Transmission and Distribution sector is all set to remain in focus for quite some time. The government’s target of generation of 100 GW of solar energy by 2022 and measures like excise duty exemption for Ferro Silicon Magnesium used for manufacturing components of wind-operated electric power generators have also increased the demand for electrical wires and cables.

In addition, the government’s ‘Smart City’ project is expected to promote large-scale growth in infrastructure, telecom, power generation, T&D, engineering and automotive sectors. In addition, electric vehicles (EV) are expected to drive growth for cables and wires firms in a big way. There will be an increased demand for wires and cables when the acceptability of EV picks up. Some amount of wire will also be required to set up EV charging infrastructure.

The wire and cable industry expects a spurt in manufacturing activity and capacity expansion in sectors like steel, cement, pharma, etc.

Cable & Wire 2019 will give exhibitors an excellent opportunity to showcase their offerings and a platform for establishing a mutually beneficial relationship with other business people and potential clients.