With major infrastructure projects taking place across India, LS Cable & System is looking forward to invest in the Indian cable market.
November 21, 2019
LS Cable & System will establish a communication module production line in India in order to strengthen its push for Indian market, which has been growing rapidly.
According to wire industry sources, LS Cable’s Indian subsidiary LSCI is planning to build a 6,000-square-meter communication module plant on the remaining site located in Bawal Industrial Complex in northern India next year.
In particular, the company is showing a marked growth in the ultra-high-pressure cable market, which won the right to participate in the project in 2017. Although LSCI’s market share of ultra-high pressure cables in India stood at 5 percent in 2017, it has risen to 30 percent this year.
Noting that India is a market that just woke up, CEO Myung said, “With the re-election of Indian Prime Minister Narendra Modi, industrialization and urbanization are expected to proceed at a faster pace, and that the electric wire-related market is also likely to grow significantly due to the expansion of infrastructure networks.”
