With a strong emphasis on expanding its footprint in the US, along with increasing the Indian market share, Paramount Cables is making strategic investments in capacity expansion. They are coming up with a greenfield manufacturing plant in Madhya Pradesh for DC and AC cables, which is expected to be fully operational by FY27. Mr. Sanjay Aggarwal, Chairman & CEO of Paramount Cables Group, revealed during an exclusive interaction with Wire & Cable India that they anticipate at least 40 percent of their revenue to come from the US market on a sustained basis.
A Legacy Built on Innovation
With decades of expertise in the cable manufacturing industry, Paramount Cables Group continues to push the boundaries of innovation and growth. The company is now setting the stage for its next phase of expansion, driven by cutting-edge technology, strategic investments, and a strong global footprint.
From Humble Beginnings to Industry Leadership
Founded in 1955 by the late Shri Shyam Sundar Aggarwal, Paramount Cables started as a house wiring business. However, the rise of counterfeit products in the late 1970s led to a strategic pivot towards institutional sales, focusing on telephone cables.
“My journey with the company began in 1983, followed by my brother, Sandeep, in 1986. Innovation was key to our success in a growing industry,” shares Mr. Sanjay Aggarwal, Chairman & CEO.
By 1983, Paramount had reached INR 1 crore in revenue, supplying 100 percent of its telecom cables to the Department of Telecommunication (DOT). Over time, the company expanded into railway signalling cables and power cables, reaching INR 27-28 crore by 1995. A successful IPO further fuelled growth, and by 2000, Paramount had set up an optical fiber cable plant, surpassing INR 100 crore in revenue.
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Expanding Horizons: A Global Presence
A major milestone came in 2007 when Paramount acquired AEI Cables, a UK-based company with a rich history dating back to 1836. AEI Cables played a vital role in laying the first undersea cable between London and Mumbai, cementing its legacy in the industry. AEI Cables had manufactured and installed the first undersea telegraph cable connecting London to Mumbai in the year 1863.
“The acquisition gave us access to larger export markets, and soon, we secured prestigious projects, including the five-year exclusive cable contract for the London Underground, supplies for the London Olympics, and cables for the Queen Elizabeth aircraft carriers (QE1 & QE2),” says Mr. Aggarwal.
However, economic challenges following the 2008 financial crisis led Paramount to exit AEI Cables in 2014, allowing the company to refocus on strengthening its Indian operations.
Diverse Product Portfolio and Market Leadership
Today, Paramount Cables offers a comprehensive range of high-quality products across multiple industries. They manufacture power cables upto 66 kV for industrial, commercial, and infrastructure applications; control & instrumentation cables to support automation and industrial processes; railway signaling cables including advanced signaling and axial counter cables; telecommunication cables- optical fiber, telephone, and CAT V cables; fire-performance cables ensuring safety in critical environments; and house wires with pioneering India’s first lead-free house wires in 2009.
We are currently exporting products worth around USD 65 million to the US and look forward to increasing our market share further.
Breaking Barriers in the US Market
After establishing a dominant presence in India, Paramount turned its focus to the US market—a challenging yet rewarding endeavour.
“Before 2018-19, Indian cables weren’t being exported to the US. It took us years to develop products that met the strictest quality standards, but eventually, we gained acceptance,” explains Mr. Aggarwal.
The results have been remarkable. In the first two years, Paramount’s US exports stood at INR 7.5 crore each year. By the third year, revenue surged to INR 100 crore, followed by INR 400 crore in the fourth year.
With the US cable import market valued at USD 30 billion, Paramount faces stiff competition from countries like South Korea, Vietnam, Egypt, and Mexico, many of which export at zero duty. Despite this, Paramount is determined to expand its market share, currently exporting products worth approximately USD 65 million annually.
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Investing in the Future: New Manufacturing Facility
To meet rising demand, Paramount Cables is making strategic investments in capacity expansion. The company has acquired 31 acres of industrial land in Narmadapuram, Madhya Pradesh, for a greenfield manufacturing plant dedicated to DC and AC cables. The facility is expected to be fully operational by FY27, reinforcing Paramount’s market leadership.
Vision for the Future
With an unwavering commitment to quality, innovation, and global expansion, Paramount Cables is poised for continued success. Backed by a legacy of trust, Paramount Cables is not just manufacturing cables—it’s powering the future.
