NAVANK, an optical fibre cable and power cable raw materials consultancy company, envisions to become a USD 30 million company by 2030. Their main focus is to capture a significant market share across the European market through strategic expansion and market penetration efforts. In the last 5 years, NAVANK has grown rapidly with 100 percent YOY growth from USD 1 million to USD 15 million in 2023. In a recent interaction with Wire & Cable India, Mr. Naval Singhal, Director & Chief Business Officer, NAVANK, talked about their participation in Wire 2024, its recent partnerships and future plans.
Wire & Cable India: What are your key objectives for participating in Wire 2024, Germany?
Naval Singhal: One of our key objectives is to expand our company’s market presence into the European market, leveraging Wire 2024 as a platform to showcase our products and services to potential clients, partners, and distributors in Europe. We are aiming to establish and strengthen relationships with key industry players, including manufacturers, suppliers, and technology partners, by networking at the show. This involves setting up meetings with industry leaders and engaging in discussions to explore potential collaborations or business opportunities.
Another objective will be to showcase our latest products, innovations, and technologies to demonstrate NAVANK’s capabilities and competitiveness in the wire and cable industry. This will help generate interest and attract potential customers. We are seeking to enhance brand awareness and visibility for NAVANK within the wire and cable industry, both domestically and internationally. Participation in Wire 2024 provides a platform to increase NAVANK’s exposure and reach a targeted audience of industry professionals and decision-makers. These platforms give us an opportunity for market research, ‘we are able to gather insights into industry trends, customer preferences, and competitor strategies. Engaging with attendees and exhibitors also provide valuable intelligence to enhance NAVANK’s strategic decision-making and product development efforts.
WCI: What new products or technologies will you be showcasing at the event?
NS: NAVANK has partnered with Systematic India for GI wire and ACS wire to be promoted in the US and Europe market. Further, we have also collaborated with Plasfer Portugal for promotion of copper cathodes into the Indian and Europe market. We want to demonstrate how these products seamlessly integrate with our existing systems and thus provide value to our suppliers in terms of revenue growth. Given the increasing emphasis on sustainability in the wire and cable industry, NAVANK wants to showcase special PVC products from Karin Brazil.
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WCI: What is your USP that keeps you ahead of the competition?
NS: NAVANK believes to keep adding new innovative products in their portfolio to fulfil customer requirements. Our main USP is after sale service as we have a dedicated technical support team in India, our technical support team can reach quickly to rectify any issue asap. NAVANK has a strong global presence & strategic partnership with industry leaders that help our customers to get easy access to new innovative products.
WCI: NAVANK has established itself as a key player in the wire and cable industry, known for its diverse partnerships. Please shed light on your recent partnerships or collaborations.
NS: NAVANK has recently partnered with Systematic India for the GI wire and ACS. Further, we have collaborated with Plasfer Portugal for copper cathodes. NAVANK is slowly becoming an aggregator of cable products, where we have products for optical fibre cable, power cables and data cables. Every year, we keep adding new innovative products to our portfolio which helps us stay ahead.
WCI: What are your long-term vision and goals?
NS: In the last 10 years, NAVANK has proved its position as a leading supplier of raw material for the wire and cable industry. NAVANK is recognized in the market for its innovative products, quality and customer satisfaction services. Our vision is to be a USD 30 million company by 2030 and to capture a significant market share across the domestic & international market through strategic expansion and market penetration efforts. Our main focus for 2024-25 is to expand NAVANK’s presence and operations in the European market with our wire and cable product portfolio.
WCI: NAVANK has set an ambitious goal of becoming a USD 30 million company. Can you provide insights into your strategic roadmap for achieving this target?
NS: In the last 5 years NAVANK grew rapidly in the market with 100 percent growth YOY from USD 1 million to USD 15 million in 2023. To be a USD 30 million company our main focus is to identify and prioritise target markets in the wire and cable industry with high growth potential, both domestically and internationally. From the last few years, NAVANK is also investing in sales and marketing like participating in the cable & wire shows globally, publishing monthly newsletters to increase brand awareness in the market. Also we are expanding our product portfolio with our newly launched GI wire, ACS wire and copper cathode to offer a comprehensive range of cable solutions catering to diverse customer needs and applications. In future, we also plan to expand into more products sourced from India for our European market.
WCI: Kindly comment on your market footprint and key clientele.
NS: Our focus has been on the European optical fiber & power cable market. The optical fiber market in Europe is experiencing steady growth driven by the demand of high-speed internet, expansion of data centers and advancement in telecommunication networks. The power cable market in Europe is growing with emphasis on upgrading ageing power infrastructure and enhancing grid reliability and efficiency. Both the optical fiber and power cable markets are expected to continue growing as European countries are pursuing digitalization initiatives, investing in infrastructure development, and transitioning towards cleaner and more sustainable energy systems. Currently our top clients are Havells, Sterlite Power, Dynamic Cable, Gems, Sterlite Tech, HFCL, Polycab, Laser power, SPM to name a few. Our top partners are Wanma, Systematic India, Siber Nantong, Kemaite, Unitape , Chhaperia India and CGN.
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