Indian Market trends of our Industry cable and wire
Wires and cables play an indispensable role in today’s digitally advanced life and find extensive usage across a number of applications in several industries. The extensive usage and applications of wires and cables across various industries will put the wires and cables industry on the right path for the future.
The trend in the market keeps changing these days. But it is also believed that government has made the right move in the past few months when it comes to talking about investment. The government on the whole needs to get private investments moving by reducing the interest rates. This will help in kick starting the economy.
That being mentioned, the government needs to start focusing a little bit on incentives. As we all know giving a particular incentive regardless of the industry will get things moving better. Direct incentives for a list of specified industries coupled with the ease of doing business will have investments pouring in. It’s sure true that the processes being followed currently would bring about a positive result but incentivizing the investments would yield an immediate result.
Back to positive developments, the government’s initiatives on the front of power, housing, infrastructure and digitization are sure to pay dividends to all the industries. Housing for all, power for all and internet for all means a lot of business for the wire and cable industry in the coming future.
Not only the above mentioned industries, the emphasis the government is putting on non- conventional sources of energy like solar is also a positive step for the wire and cable industry. There are a lot of DC based products that come into the market to specifically serve these particular segments. By the time these translate into field investments, the demand for the needed electrical would already be there, making it a positive outlook for the wire and cable industry.
So from it all, the cable and wire industry are only going to benefit and that is great news for those in the industry.