Established in 1988, H. D. Wires is of one of the leading manufacturers of G.I wires and products in India. Can you update us on the status of steel industry in India?
We are very hopeful for the future of steel industry. There is a movement in last two months. Everybody in the steel industry was in a bad crunch for last 6-8 months. There is an improvement and movement in the industry since November 2019.
What kind of movements are visible in the industry?
This is because we are receiving good orders and the volumes are increasing. It’s an optimistic scenario in the industry as of now.
What is your roadmap for 2020?
We had expanded our business in 2019 by adding new products and diversified our business plans but we have not yet utilised the complete capacity. The new products launched are PC wires for rural electricity poles, 3×3 PC wire for railway sleeper, and G.I cable tape for railway signaling. There are many hurdles to be passed. We have to face the competition with countries like Malaysia. Central government has enforced impose duty on anti-dumping on China and other countries are taking benefits of this. They have increased the competition for us. Others are importing from them as wire is cheaper there. So, it becomes easy to import. We have to study our country situations and then need to take the step of importing.
What are the other challenges for the industry?
There are many hurdles like there is no support from the financial system. Also, there is no quality control in the wire and cable industry. Right now, everyone is in hurry to showcase to public so they have to compromise with the quality of the product. Central government should have an institute like PGCIL which will monitor use of commercial wires, secondary producers. There should be some certification and standards.
To watch this interview, click https://youtu.be/7OMMHoyckmI
