Founded in 2012, Fybros comes from the house of Kundan Cab, started in 1968 in a small shop in Chennai with a vision to create electrical products which bring an effective change to the lives of people. The company has expanded its presence to the northeastern region of India and launched smart stores in various parts of the country. In the coming times, Fybros aims to expand its reach to other parts of India as well as grow business in the overseas market. Mr. Parasmal Jain, Director, Fybros sheds light on the recent innovations, and plans regarding market expansion, and key market trends, in an exclusive conversation with Wire & Cable India magazine.
New innovations and recent developments
Fybros is a proficient brand of modern electrical goods in India; we construct a premium range of electrical products, which varies from switches & accessories, wires & cables, and lighting systems to switchgears.
In the wire & cable segment, we offer a variety of products, including domestic, communication & industrial cables which include FR, FR-LSH, UFFR, ZHFR, XLPE, PVC, single & multicore, VIR, co-axial, telephone & switchboard, LT power control, computer & LAN networking, and CCTV Cables. All our products are BIS marked and have necessary certificates such as quality system certification, environmental system certification, safety system certification, STQC certification, European certification and DOT certification.
We already have a dedicated manufacturing plant for wires & cables in Bhiwadi, Rajasthan. Lately, we have installed new machines for LT-Power Control cables, which will meet the increased demand for higher-capacity optical cables for quicker & reliable connectivity.
We have also invested in increasing our workforce in the R&D field to keep pace with emerging technologies and meet the standards of both Indian and international markets. Overall, strengthening the R&D department is vital for a company because it helps to ensure its long-term success by driving innovation, reducing costs, staying ahead of future trends, and building a solid reputation in the marketplace.
Market expansion plans for 2023
Fybros considers innovation as one of the key pillars of growth. Therefore, we substantially invest in our R&D department to be in compliance with the industry standards and modernize our products. We allocate a larger budget for research and development to ensure that the company has the resources it needs to innovate and improve its products and services, focusing on our strategic areas combined with new technologies and digitalization. Our R&D Department identifies areas of technology and market trends that are most relevant to the company’s goals and focuses on those areas. We undergo regular reviews and evaluations of the progress of R&D projects to ensure they align with the company’s overall strategy and to make adjustments as needed.
Recently, we have expanded our presence to North East and launched a few Smart Galerie (Fybros smart stores) in various cities of India. Our goal is to establish our presence in every state of India by the end of 2023. With the government’s emphasis on infrastructure development, we also anticipate active participation in B2G projects across India. We aim to achieve a target of INR 1000 crore revenue by the next financial year.
To establish our position in International countries, we have initiated exports to Nepal, Bhutan & Bangladesh, and we aim to expand our reach to other countries in the future.
Also Read: Wire & Cable India Emagazine Nov-Dec Issue 2022
Defining trends driving growth & demand in the year ahead
As India’s economy continues to grow, there is a huge demand to fulfill. There are several key trends that will be driving the growth and demand in the Indian Electrical market:
Smart Grid and Digitalization: The Indian government is focusing on modernizing the country’s electricity grid through the use of smart grid technologies and digitalization. It is expected to drive demand for advanced electrical systems and equipment, including sensors, control systems, and communication networks.
Increase in infrastructure and construction activities: The Indian government has announced several infrastructure projects and construction activities across the country, which will drive the demand for electrical products like lighting fixtures, electrical panels, switchgear, and others.
Focus on rural electrification: The Indian government is also focusing on increasing access to electricity in rural areas, which will drive demand for electrical equipment and systems in these areas.
Growing demand for energy efficiency: To meet the growing demand while reducing greenhouse gas emissions, the government is promoting energy efficiency in buildings, industry and transportation. This will drive demand for energy-efficient equipment, appliances and electric vehicles.
