Power-cable market is more competitive than decade ago

Power-cable market is more competitive than decade ago
G. K. Banerjee, President (Marketing) at Finolex Cables shares his experience on the power-cable market, and recommends how to boost its growth
The power-cable industry is in the crossroad of hope and challenges. Where the entry of international companies is increasing the completion, the government is adding hope by approving of restructuring of ` 1.9-lakh-crore debt of state electricity boards.
Entry of new playersA number of new players have entered into power-cable industry in India in the last couple of decades. The market is now more competitive than it was a decade ago. As a result, quality has taken a beating in some areas, especially in the medium-voltage segment. The total capacity in the market exceeds the current demand. Therefore, consolidation may follow soon.
Reasons for negative growthThe power cable business has experienced a negative growth of 16.05 per cent during second quarter of FY13 compared to the corresponding period of last year. The negative growth mainly attributes to the general economic slowdown, in particular the power projects which did not come as per schedule.

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