CWF, forecasts a period of massive growth for the Indian wire and cable industry in FY17-22 driven largely by power, telecommunication, infrastructure, automotive, and railways.
With participants from over 18 countries the first edition of the Cable & Wire Fair (CWF), held at Pragati Maidan, New Delhi, received recognition from the global wire and cable industry, for providing a precise platform for product showcasing, technology exchange, and knowledge sharing.
The wire and cable industry, which has been growing at the rate of around 15 per cent currently, will start growing at the CAGR of over 20 per cent over the next 5 years, as per various estimates. And taking a cue from predictions and studies, CWF foresees the Indian wire and cable industry tapping sterling growth figures in 2017-22 because of very encouraging data in major sectors like power, telecommunication, infrastructure, automotive, and railways.
Strong Growth Currents in Power Generation, T&D
The Indian power sector has an investment potential of Rs 15 trillion ($223.67 billion) in the next four-five years, thereby providing immense opportunities in power generation, distribution, transmission, and equipment.
Between April 2000 and March 2016, the industry attracted FDI of $10.48 billion. The Ministry of Power has set a target of 1,229.4 billion units (BU) of electricity to be generated in the FY17-18, which is 70 BUs higher than FY16-17 achievement.
Around 293 global and domestic companies have committed to generate 266 GW of solar, wind, mini-hydel and biomass-based power in India over the next 5û10 years. The initiative would entail an investment of about $310û350 billion.
Besides, on power transmission front, as on March 31, 2016, PGCIL owns and operates a transmission network of about 1,29,354 ckm of inter-state transmission lines, 207 EHVAC & HVDC sub-stations with transmission capacity of about 2,54,848 MVA. Under the 12th Five Year Plan (FY 12-17) which has laid special emphasis on development of the infrastructure sector including energy, PGCIL has already made a Capital Expenditure of Rs 88,235 crore ($13.38 billion) against the Capital Expenditure plan of Rs 1,10,000 crore ($16.68 billion).
Moreover, the total inter-regional capacity addition planned in the 13th FYP (2017-2022) is 47,500 MW, to increase the present interregional capacity of 63,650 MW (as on November 2016) to 118,050 MW by 2021-22. This is to be done through several interregional corridors and system strengthening projects. In order to provide a boost to the power sector, the Government also has set a target of electrifying 18,452 villages by May 2018 under DDUGJY.
Amid all these growth prospects, CWF17 is committed to provide the most apt platform for business networking and information sharing among various participants in the growth of the wire and cable industry.
CWF15, the first edition, through its exhibition and conference stages, has already created a positive and forward looking mood in the industry and CWF17 will go many steps further to ensure a gratifying outcome for all who participate.
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