Growth in Indian Wire and Cable Industry – The Way Forward
The Indian wire and cable industry is on a strong growth path, having more than doubled in value over the last five years, to cross INR 1.7 trillion in FY24, with projections of 11%–13% annual growth through FY29. This momentum is being shaped not only by rising infrastructure and manufacturing investment at home, but also by global buyers increasingly turning to India as a reliable source of supply. Importantly, growth is broad-based across the value chain.
While power cables continue to expand in scale, demand for steel wires and aluminium conductors has also accelerated, driven by their critical role in strengthening grids, supporting large infrastructure, and enabling industrial applications. Industry consolidation, capacity expansion, and process efficiencies are further enhancing competitiveness, while government policy support and long-term trends like electrification, urbanization, and industrial growth provide a durable foundation.
Risks from raw material volatility, overcapacity, and pricing pressures remain, but with companies investing in innovation, backward integration, and international certifications, the sector appears well-positioned for sustainable, diversified growth.
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Primary Drivers of Wire and Cable Industry Expansion
The primary drivers of expansion in the industry can be traced to sectors where aluminium conductors, steel wires, and power cables are critical inputs. The power sector remains the largest consumer, with utilities investing heavily in transmission upgrades, distribution modernization, and electrification of underserved regions. This is creating strong demand for aluminium conductors such as AAAC and ACSR, which enable higher efficiency over long spans, alongside steel earth wires and stay wires that ensure grid stability.
Parallelly, the railway and metro sector is contributing significantly through electrification of mainline routes and rapid metro development. These projects depend on galvanized steel wires for catenary systems, droppers, and reinforcement, while also spurring orders for power cables to support transmission and signaling needs.
Additionally, zinc–aluminium alloy-coated wires are gaining traction in railway fencing, particularly for high-speed routes such as the Vande Bharat, due to their longer service life and superior tensile strength compared to conventional galvanized wires.
The construction and infrastructure segment is another important driver, with bridges, flyovers, and highways requiring prestressed steel wires and gabion mesh for slope stabilization and structural reinforcement. At the same time, telecom and utilities are expanding underground in urban centers, where armored power cables and messenger wires play a crucial role in durability and protection. Collectively, these sectors are driving growth for the Indian wire and cable industry, as demand continues to expand across both traditional and emerging applications.
Major Trends in Terms of Technology, Product Mix, and Supply Chain
The industry is undergoing significant transformation in both technology and product mix, shaped by renewable integration, grid modernization, and large-scale infrastructure expansion. In conductors, adoption is steadily moving toward advanced aluminium alloys such as AL-59, along with hybrid designs like ACAR and AACSR that offer superior conductivity, tensile strength, and thermal performance.
This shift toward advanced materials is mirrored in zinc applications, which is now extending into arc-spray metallizing to protect bridges, towers, wind turbines, and coastal infrastructure with durable Zn and Zn-Al coatings.
At the same time, demand for steel wires is shifting toward low-relaxation prestressed concrete (LRPC) strands with tighter dimensional tolerances, high-fatigue stay wires for bridges, and corrosion-resistant galvanized wires for railway electrification and catenary systems.
To meet these evolving requirements, manufacturers are investing in advanced drawing technologies, automated galvanizing lines, and defect-detection systems, while simultaneously developing customized alloys and coated variants to extend service life in harsh operating conditions. The re-opened PLI scheme for specialty steel further incentivizes green production, alloy development and ESG compliance. Together, these shifts mark a decisive pivot away from commodity-grade galvanized wires toward a higher-value, specialty-driven portfolio aimed at both domestic projects and export markets.
Impact of New Entrants in the Industry
The entry of new players is significantly reshaping the competitive landscape across the industry by intensifying price pressures in high-volume, cost-sensitive segments while simultaneously driving innovation in advanced solutions.
Large industrial groups are leveraging expertise in steelmaking and infrastructure to backward integrate into production, placing pressure on smaller regional suppliers that struggle to meet stricter RDSS-driven quality standards. Established firms are focusing on next-generation steel wire products that deliver features like diverse use, high-tensile strength, and corrosion resistance. Backward integration into steel and aluminium wire rods, galvanizing and insulation materials is strengthening supply chains, reducing import reliance and enabling cost efficiencies, while export-oriented manufacturers pursue international certifications to expand global market access as buyers diversify away from China.
New entrants are contributing to rapid portfolio diversification by investing aggressively in cost-competitive production and niche product categories, which is intensifying competition but also broadening the availability of innovative solutions. Established players, in contrast, are countering these pressures by channeling resources into R&D for high-performance alloys and composite conductors, while also strengthening brand credibility through certifications and global partnerships.
Collectively, these dynamics are creating a market defined by diversification, technology-driven differentiation, and rising sustainability standards, but one that also faces the dual risks of overcapacity and eroding margins as competition accelerates.
Crucial Financial Information, Important Events, and Advancements
Over the last financial year, Group Nirmal has taken some significant steps towards ensuring all-round growth. We strengthened our manufacturing base by acquiring two new units, an aluminium products plant in Khordha, Odisha, and Cee Dee Metalloys in Bangalore, a specialist in zinc metallizing products and solutions.
These additions allowed us to broaden our product portfolio meaningfully, expanding our aluminium and alloy wire rods and conductor portfolio to include new-age products like AL-59, ACAR, AACSR, ACSS and 6xxx, while also moving into zinc and zinc–aluminium wires and rods for advanced metallizing solutions.
Another proud milestone for us was receiving the prestigious JIS certification for our GI wires, a recognition of our commitment to quality. Financially, our topline grew to INR 2000 crores, supported by reaching new and promising export boundaries that are setting the stage for long-term global growth.
Looking ahead, we see these achievements not as endpoints but as stepping stones. Our focus is on scaling up capacities, deepening our global presence, and continuing to diversify our offerings and certifications so we remain a trusted partner in the growth of India’s infrastructure.
Significant Expansions, Investments, and Capacity Enhancements
We have announced a major expansion plan with an INR 100 crore capex to significantly increase our production capacity. We are enhancing our steel wire output by 7,000 tonnes per month and aluminium production by 5,000 tonnes per month within the current fiscal year. Most of this investment is being directed towards strengthening our manufacturing facility in Khordha, Odisha, while the rest is allocated to upgrading our facility in Deulti, West Bengal.
With established production cycles and efficient lead times, we aim to complete this capacity expansion within the current calendar year.
B2B Exhibitions Fueling Industry Growth
Exhibitions are more than just business events. They are places where people meet face-to-face, build new relationships, and reignite old ones. In an industry where trust matters, these personal connections inspire confidence and open doors to opportunities that might never emerge over phone calls or emails. They also create an environment where curiosity thrives.
Companies showcase their latest innovations, while visitors gain fresh ideas and insights to take back to their own businesses. In this way, exhibitions become hubs of collaboration and learning, reminding the industry that progress is built not just on technology and products, but on the strength of human relationships and shared vision for growth.
Over the years, the Cable & Wire Fair has not only given businesses the visibility to share their innovations, but also created an environment for genuine collaboration, learning, and growth. The event has opened doors to new opportunities by bringing the ecosystem closer together and has shown how progress in our industry is driven not just by technology and products but also by people and partnerships.
Visit Stand: Hall 4/ K2 at Cable & Wire Fair 2025, New Delhi
