Bhushan Sawhney
Executive President & Chief Business Officer (Cables), Polycab India
How do you view the evolution of wires & cables market in the country? What are the key demand drivers?
The wires & cables market in India is growing rapidly, primarily due to extensive infrastructure projects and rising urbanization. Government initiatives like the National Infrastructure Pipeline (NIP) and the Pradhan Mantri Awas Yojana (PMAY) have contributed significantly to this growth, with the NIP aiming to invest heavily across sectors such as transportation, housing, and energy. This comprehensive infrastructure push is crucial for the development of Tier II and Tier III cities, leading to increased demand for both high and low voltage cables in residential and commercial buildings.
The market landscape for the W&C business is currently shaped by significant government capital expenditure, which continues to drive demand across various sectors. Additionally, we are witnessing encouraging signs of recovery in private capital expenditures, which are expected to strengthen further over the years. This uptrend presents a favourable environment for growth.
The real estate sector in India is currently experiencing robust growth, ably supported by government initiatives such as the ‘Housing for All’ programme and the growing middle class, which is expected to increase consumer spending power.
The investment uptick in power generation, transmission, and distribution is poised to drive the demand for power cables and control cables. In addition, with India's ambitious goals for renewable energy expansion, with plans to add 500 GW of renewable energy capacity by 2030, encompassing various renewable sources such as solar, wind, hydro, and others, the demand for cables and wires will experience a notable upsurge. Furthermore, India's commitment to attaining Zero Net Emissions by 2070 will necessitate substantial investments in renewable energy infrastructure, including transmission and distribution networks. Consequently, the demand for high-quality cables and wires will continue to escalate, driven by the imperative to facilitate the efficient and reliable transmission of renewable energy across the country.
Similarly, the persistent focus on digitalisation and the expansion of broadband connectivity is anticipated to bolster the demand for telecom cables, particularly optic fibre cables. The real estate and construction boom, encompassing both residential and commercial projects, continues to fuel the need for electrical wires. The industry is also witnessing a significant shift towards organised players, recognised for their superior quality and safety standards. These players currently hold a dominant 70% market share and are expected to gain further market share as consumers become increasingly aware of the importance of safe and reliable electrical products.
The roll-out of 5G technology is another significant demand driver, as telecommunications infrastructure upgrades require fiber-optic cables to support high-speed data transfer and low latency.
What are the innovations happening in wires & cables? What is trending now?
The wires & cables industry in India is at the forefront of technological innovation, focusing on safety, sustainability, and digital integration. A major trend is the development of flame-retardant and halogen-free cables, which reduce toxic emissions during fires, aligning with heightened safety standards. Polycab’s ‘Green Wire’ line, for instance, is designed with eco-friendly materials that limit smoke and toxic gas emissions, providing safer options for residential and commercial buildings.
The growth in smart home adoption has also increased demand for cables compatible with IoT-enabled devices and advanced automation systems. Fiber-optic cables, essential for 5G and data center connectivity, are in high demand, prompting companies to invest in manufacturing processes that support high data rates and low latency. The adoption of fiber-optic cables will continue to expand as 5G infrastructure grows.
What are the new developments in wires & cables for housing and commercial segment applications?
The housing and commercial sectors in India demand cables that offer durability, flexibility, and enhanced safety. As urban areas expand with high-rise developments, the need for low-voltage and high-flexibility cables has risen. Polycab’s latest cables feature advanced insulation and heat-resistant properties to support high-load systems, such as HVAC, lighting, and power distribution and power distribution in multi-storey buildings. This development ensures minimal power losses and enhanced safety in dense urban environments. Polycab has also introduced eco-friendly cables under its ‘Green Wire’ range, designed to cater to environmentally conscious consumers who prioritize sustainable building solutions. These developments reflect a broader industry shift towards safer, more efficient infrastructure solutions to support India’s urbanization and housing expansion.
What are the key safety features in your range of wires and cables?
Safety remains a top priority in the wires and cables sector, especially as electrical faults are a common cause of fires in residential and commercial buildings. Polycab’s Green Wire product line incorporates flame-retardant, low-smoke, and halogen-free materials to minimize toxic emissions during a fire, offering enhanced safety in densely populated environments. These cables are designed to meet stringent fire safety standards, reducing risks and providing peace of mind to end-users. Polycab’s ‘Extra Safe’ Maxima+ range also exemplifies this focus on safety. With advanced insulation technology, these cables are engineered to prevent electrical leaks and withstand high temperatures, making them highly reliable for heavy-duty applications.
What are the changes visible in wires & cables with the renewable energy sector evolving?
India’s push towards renewable energy, particularly solar and wind, has reshaped the wires and cables industry by creating a need for cables that can withstand extreme outdoor conditions and high voltages. India’s renewable target of 500 GW by 2030 is driving demand for UV-resistant, weatherproof cables that offer durability in solar and wind installations. Polycab has responded by producing cables optimized for renewable projects, with advanced insulation and materials that endure high temperatures and harsh weather conditions. These cables are engineered to minimize power losses, ensuring efficient energy transfer. These innovations not only support India’s renewable goals but also mark a significant shift in the industry toward sustainable infrastructure solutions.
How do you view the future market demand for wires & cables?
The future of India’s wires and cables market appears strong, with projections estimating a 7.87% CAGR through 2032. Driven by infrastructure expansion, 5G rollout, and renewable energy projects. To meet this anticipated demand, Polycab has strategically expanded its manufacturing facilities and increased investment in R&D, focusing on eco-friendly, high-performance cables suitable for modern applications. Polycab’s diversification into products that support smart cities and renewable energy demonstrates foresight in aligning with India’s future infrastructure needs. The sector’s growth is noted to be supported by investments in urban development and digital infrastructure, which necessitate a steady supply of high-quality cables. By leveraging its extensive distribution network and expanding its product portfolio, Polycab is well-positioned to capitalize on emerging opportunities in the evolving Indian market.
