Polycab India is engaged in the business of manufacturing and selling wires and cables as well as fast moving electrical goods. Apart from wires and cables, the company manufactures and sells FMEG products such as electric fans, LED lighting and luminaires, switches and switchgear, solar products and conduits & accessories. With R&D as a key strength, Polycab continues to achieve product differentiation and offer a unique value proposition to its consumers. In a recent interaction with Wire & Cable India, Mr. Bhushan Sawhney, Executive President & Chief Business Officer, Polycab India Limited shared his insights on the current scenario and growth drivers of the wire and cable industry, the challenges faced by the industry and what its future looks like, the R&D scene in the wire and cable field and Polycab’s investments towards R&D.
Wire & Cable India: What is the current scenario of the wire and cable market?
Bhushan Sawhney: The wire and cable market is witnessing strong growth due to urbanization, infrastructure development, renewable energy expansion, and the demand for high-speed data transmission. The rising number of construction projects and the need for efficient power transmission is driving the demand for cables. Moreover, the widespread use of smartphones, tablets, and IoT devices is fuelling the requirement for reliable data transmission cables. This dynamic market is evolving to meet diverse industry demands, making it a key sector for innovation and technological advancements.
WCI: What are the challenges faced by the wire and cable segment?
BS: The wire and cable segment faces several challenges despite its strong growth prospects. One major challenge is the volatile price of raw materials such as copper and aluminum, which significantly impacts the cost of production. Another challenge is the need for continuous research and development to keep up with evolving technologies and industry standards. Moreover, the industry needs to focus on developing more sustainable materials, promoting recycling initiatives, and adopting eco-friendly manufacturing practices. This will not only help reduce the environmental footprint of the segment but also meet the growing demand for environmentally conscious products.
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WCI: What is the R&D scenario in the wire and cable field?
BS: The wire and cable industry is actively engaged in research and development to drive innovation and address the evolving needs of various sectors. Companies are investing in R&D to develop new technologies, materials, and manufacturing processes that will improve performance, efficiency, and safety in the industry. For instance, prominent players in the wire and cable market continuously investing in R&D efforts focused on developing flame-resistant cables to enhance fire safety and reduce environmental impact. The industry is investing in R&D to optimize energy efficiency and sustainability. R&D initiatives are aimed at exploring insulation technologies to enhance energy efficiency in cables, particularly in the context of renewable energy transmission. The wire and cable industry recognizes the importance of R&D to stay competitive and meet the evolving demands of sectors such as construction, telecommunications, and renewable energy.
WCI: What are the recent R&D and innovations at Polycab?
BS: At Polycab, R&D remains one of our key strengths which enables us to achieve product differentiation and offer a unique value proposition to our consumers, distribution, dealers as well as institutional customers. Our in-house R&D center, located at Halol, Gujarat, is certified by the Department of Science and Industrial Research (DSIR, Government of India), and is continuously working on new product development in the wire and cable space. A large team of R&D and technical professionals support the manufacturing function through their expertise in research process, design, performance and project management, and cater to evolving market requirements such as fire-retardant, fire survival, low smoke and multi-chemical resistant compounds. We also collaborate with various external technology consultants to develop many first-to-market technologies.
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WCI: What is the future of the wire and cable industry?
BS: The future of the wire and cable industry is poised for remarkable advancements and growth, fuelled by ongoing R&D efforts. With a focus on innovation, the industry is set to meet the evolving demands of infrastructure development, renewable energy transition, and technological advancements.
The wire and cable sector is embracing the shift towards renewable energy sources. R&D initiatives are focused on creating specialized cables that can effectively transmit electricity from solar farms, wind turbines, and other renewable sources to the grid. These advancements will support the growing demand for clean energy and contribute to a sustainable future. The wire and cable industry’s future is promising due to its strong focus on R&D. Through ongoing innovation, the industry is well-prepared to meet the demands of infrastructure development, renewable energy transition, and the technological advancements of tomorrow.
WCI: What are the drivers responsible for the growth of the wire and cable segment?
BS: The growth of the wire and cable segment is driven by several key factors, which are shaping its positive trajectory. One of the primary drivers responsible for the growth of the industry is the technological advancements, because as industries embrace automation, digitization, and smart technologies, there is a need for cables that can support high-speed data transmission, power efficiency, and connectivity. The expansion of transportation networks, construction of commercial and residential buildings, and investment in energy infrastructure is also contributing to the demand for reliable and efficient cables. Another factor is the expansion of renewable energy generation, including solar and wind power, which requires specialized cables for transmitting electricity from these sources to the grid. In addition to this, the wire and cable industry is continuously improving the safety standards and energy efficiency of its products. This includes developing flame-retardant cables, using eco-friendly materials, and optimizing power transmission to minimize energy loss.
