Project Report on
Wire & Cable Projects
India's wire and cable industry has more than doubled in size in five years: from approximately Rs. 859 billion in FY2019 to Rs. 1,702 billion in FY2024 — a growth rate of nearly 14.7% over the period (industry estimate). In global terms, India now ranks as the third-largest wire and cable market in the world, after China and the US. The market is projected to reach approximately USD 21 billion in 2025 and USD 35 billion by 2031 (industry estimate from Mordor Intelligence and related sources). These are not projection-range numbers — they are the trajectory of a market driven by electricity infrastructure, renewable energy deployment, and digital connectivity buildout that no single manufacturer can fully service today.
For a first-time entrepreneur, wire and cable manufacturing busi
...India's wire and cable industry has more than doubled in size in five years: from approximately Rs. 859 billion in FY2019 to Rs. 1,702 billion in FY2024 — a growth rate of nearly 14.7% over the period (industry estimate). In global terms, India now ranks as the third-largest wire and cable market in the world, after China and the US. The market is projected to reach approximately USD 21 billion in 2025 and USD 35 billion by 2031 (industry estimate from Mordor Intelligence and related sources). These are not projection-range numbers — they are the trajectory of a market driven by electricity infrastructure, renewable energy deployment, and digital connectivity buildout that no single manufacturer can fully service today.
For a first-time entrepreneur, wire and cable manufacturing business in India sits at the intersection of every major infrastructure investment the government is making: 500 GW of renewable energy by 2030, 93%+ rail network electrification, metro rail expansion to 50+ cities, and the smart grid rollout under RDSS. Each of these programmes needs cables — and the demand pipeline is multi-year, large-scale, and government-backed.
At a Glance: Starting a Wire and Cable Manufacturing Business in India
India Wires and Cables Market (2024): USD 9.32 billion (Fortune Business Insights)
Market CAGR (2025–2032): ~7.94% (Fortune Business Insights)
India's Global Market Rank: 3rd largest wire and cable market worldwide
Key Export Destinations: USA, UAE, Germany, UK, Australia (IEEMA/EEPC data)
Minimum Investment (Building Wire MSME): Rs. 1-3 crore depending on capacity and product
Key Licence Required: BIS Certification (IS:694 for PVC insulated cables, IS:1554 for power cables) — mandatory
Why Wire and Cable Manufacturing Is One of India's Best MSME Business Bets for the Next Decade
Wire and cable manufacturing in India is being driven by a structural force that will not slow down: India's electricity consumption is growing at 6-8% annually, and every new unit of generation, transmission, and distribution capacity requires cables and wiring. Additionally, renewable energy, data centres, EV charging infrastructure, and 5G telecom are adding entirely new demand categories to an already large base.
The market data confirms this momentum. India's wires and cables market was valued at USD 9.32 billion in 2024, growing at 7.94% CAGR to reach USD 17.08 billion by 2032 (Fortune Business Insights). India is the world's third-largest wire and cable market. Indian cable exports to the US grew at 44% CAGR between FY17-FY24 (EEPC / IEEMA data) — one of the strongest export growth records in the engineering sector. India's engineering exports reached a record USD 116.67 billion in FY25 (EEPC India), with cables and wires contributing a significant share.
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Market Scale: India's Wire and Cable Momentum India's wire and cable market grew from Rs. 859 billion in FY2019 to Rs. 1,702 billion in FY2024 — nearly doubling in 5 years. The market is now the 3rd largest globally (after China and US) and projected to reach USD 35 billion by 2031 (Mordor Intelligence). Indian cable exports to the US grew at 44% CAGR between FY17-FY24. Solar cables are growing at 12.9% CAGR — from USD 67 million (FY2025) toward USD 176 million (FY2033). India's power cable market alone was USD 6.1 billion in 2024, projected to USD 9.5 billion by 2033 (IMARC Group). |
The government has directly fuelled this: the Union Budget 2023-24 allocated approximately Rs. 19,518 crore to metro rail projects — each of which requires tens of thousands of kilometres of cables. The National Smart Grid Mission is driving smart cable deployments. The RDSS scheme is mandating distribution network upgrades that include cable replacement and underground cabling in urban areas.
Solar cables are the fastest-growing sub-segment, with a 12.9% CAGR from FY2025 (industry estimate). India's 500 GW renewable energy target (MNRE) requires hundreds of millions of metres of specialised solar cables for rooftop and utility-scale installations. Finolex Cables committed Rs. 500 crore to double fibre optic cable capacity, and Apar Industries tripled planned conductor capacity — these are signals from the organised sector that demand visibility is high.
An MSME entering building wire manufacturing — the single highest-volume category in cable by units sold — can serve the vast residential and commercial construction market. Every residential complex, office building, and industrial unit requires building wires. With India constructing hundreds of thousands of homes, offices, and factories annually, the building wire market is the most accessible and demand-stable entry point for a new manufacturer.
Market Demand, Growth and Statistical Evidence
India's wire and cable demand is growing across all end-user segments — power, building, telecom, renewable, railway, and industrial — creating diversified revenue opportunities for manufacturers.
The power cable segment is the largest by value at approximately USD 6.1 billion in 2024 (IMARC Group). The railway segment was valued at USD 2.58 billion in 2024 by Technavio. Building wires — the highest volume consumer segment — are dominated by the residential and commercial construction market. Fiber optic cables crossed 100 million fiber-km of domestic production in FY24, with India a net exporter to Africa, South Asia, and Southeast Asia.
Year-Wise India Wire and Cable Market Data (Estimated)
|
Year |
Market Size (USD Billion) |
Key Driver |
|
FY2019 |
~6.0 (Rs. 859 bn) |
Rural electrification; SAUBHAGYA scheme peak |
|
FY2020 |
6.3 |
RDSS concept develops; real estate recovery |
|
FY2021 |
6.5 |
COVID-era infrastructure push; renewable projects |
|
FY2022 |
7.5 |
Post-COVID construction surge; PLI for electronics |
|
FY2023 |
8.3 |
Solar cable demand accelerates; export records broken |
|
FY2024 |
9.32 |
Metro expansion; EV charging cables; fiber optic surge |
|
FY2025 (est.) |
10.01 |
Fortune Business Insights estimate |
|
FY2028 (forecast) |
13.50 |
Assumed 7.94% CAGR from FY2025 base |
|
FY2030 (forecast) |
16.00 |
HDVC corridors; 500 GW renewable integration |
|
FY2032 (forecast) |
17.08 |
Fortune Business Insights projection |
Note: FY2032 projection from Fortune Business Insights at 7.94% CAGR. FY2019 to FY2024 historical growth implied by industry estimates. 2035 CAGR assumption of 7% from FY2032 base puts the market at ~USD 23 billion.
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Cable Export Milestone: India to the US Indian cable and wire exports to the United States grew at a 44% CAGR between FY17 and FY24 — one of the strongest sustained export growth trajectories in the electrical manufacturing sector. India's engineering exports for FY25 reached a record USD 116.67 billion, with cables and wires (under electrical equipment) a significant contributor. Key export destinations include USA, UAE, Germany, UK, Australia, France, Saudi Arabia, Nigeria, Kenya, and Brazil (IEEMA / EEPC India data). Export growth forecast for FY26 is 20-22% year-on-year for organised cable manufacturers. |
What Government Data Reveals About the Wire and Cable Opportunity
Government infrastructure data from multiple ministries confirms that every major national programme creates sustained demand for Indian cable manufacturers.
Ministry of Power data confirms India's 500 GW renewable energy target by 2030 (MNRE). This requires hundreds of millions of metres of solar and wind energy cables. The RDSS scheme (Rs. 3.03 lakh crore) mandates distribution network modernisation — including underground cabling in urban areas — creating massive procurement for power cables. The National Electricity Plan 2022-27 specifies 123,577 circuit km of new transmission lines, each requiring high-voltage power cables.
The Union Budget 2023-24 specifically allocated Rs. 19,518 crore for metro rail projects — a direct procurement driver for railway signalling cables, traction cables, and communication cables. India's railway network covers 93.83% electrification on the broad gauge, with remaining sections requiring specialised autotransformer feeder cables (Indian Railways, 2025). Data centre expansion — projected to triple capacity by 2030 — requires structured cabling, power cables, and fibre optic networks.
Government & Department Statistics: Wire and Cable Demand Drivers
|
Indicator |
Figure |
Source & Year |
|
India Renewable Energy Target (2030) |
500 GW |
Ministry of New and Renewable Energy (MNRE) |
|
RDSS Distribution Scheme Outlay |
Rs. 3.03 lakh crore |
Ministry of Power, RDSS Guidelines |
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New Transmission Lines (NEP 2022-27) |
123,577 circuit km |
National Electricity Plan 2022-27, CEA |
|
Metro Rail Budget Allocation (FY2023-24) |
Rs. 19,518 crore |
Union Budget 2023-24, Ministry of Finance |
|
Railway Electrification (BG Network) |
93.83% |
Indian Railways Electrification Report, 2025 |
|
India Solar Fiber Production (FY24) |
100 million fiber-km (net exporter) |
EEPC / industry data, FY24 |
|
India Engineering Exports (FY25) |
USD 116.67 billion (record) |
EEPC India, FY2024-25 |
|
India Cable Exports Growth to US (FY17-FY24) |
44% CAGR |
IEEMA / EEPC data |
|
National Smart Grid Mission |
Smart meter + grid automation — cable demand driver |
Ministry of Power, NSGM Programme |
For a wire and cable MSME, these government data points translate directly: RDSS and MNRE targets create a multi-year procurement pipeline, export growth to the US at 44% CAGR shows market readiness for Indian cables, and metro and rail programmes provide specialised cable demand beyond the commodity building wire segment.
Government Schemes and Incentives for Wire and Cable Manufacturers
Wire and cable manufacturers benefit from BIS quality framework, export promotion, and MSME credit access — as well as Make in India procurement preference.
1. BIS Certification (IS:694, IS:1554, IS:7098): IS:694 governs PVC insulated cables (building wires), IS:1554 covers heavy-duty power cables, and IS:7098 applies to cross-linked polyethylene insulated cables. BIS certification is mandatory for supply to government projects, utilities, and real estate developers. Without BIS marks, government procurement channels are closed.
2. Public Procurement Preference (Make in India Order): Government utilities and infrastructure projects are required to prefer BIS-certified Indian-manufactured cables over imports. This effectively excludes Chinese imports from large tenders where domestic capacity is adequate — protecting the domestic market for certified Indian manufacturers.
3. RDSS Procurement Opportunities: DISCOM-level tenders under RDSS for underground cabling, service cable replacement, and smart meter cabling infrastructure are live across states. A BIS-certified MSME cable manufacturer can participate through GeM or state-level utility tenders.
4. EEPC India Export Support: Engineering Export Promotion Council provides export market intelligence, trade fair participation grants, and buyer-seller meet facilitation for cable and wire exporters. US and UK are priority export markets where Indian manufacturers have demonstrated 44% CAGR export growth.
5. CGTMSE and MSME Credit: Wire and cable manufacturing being capital-intensive benefits from CGTMSE's collateral-free credit up to Rs. 2 crore. For larger units, SIDBI industrial credit and state MSME corporation loans are available. Copper and aluminium as primary raw materials mean working capital requirements are significant — pre-sale contracts with DISCOMs or builders secure the working capital cycle.
Import and Export Opportunity in Wire and Cable Manufacturing
India's wire and cable export trajectory is one of the most impressive in the engineering manufacturing sector, driven by competitive manufacturing costs, established quality standards, and global buyer diversification.
India's top cable export destinations are the USA, UAE, Germany, UK, Australia, France, Saudi Arabia, Nigeria, Kenya, and Brazil (IEEMA/EEPC data). Exports to the US alone grew at 44% CAGR from FY17 to FY24 — reflecting US buyers' preference for India as a China-alternative supplier. India's fibre optic cable production crossed 100 million fiber-km in FY24, making India a net exporter in this category to Africa, South Asia, and Southeast Asia.
The average export price for Indian wire and cable in 2024 was USD 14,201 per tonne — up 3.2% year-on-year, reflecting a positive trend in product value-per-tonne. Import prices stood at USD 16,913 per tonne — confirming that India's manufacturing cost advantage is real relative to import alternatives.
On the import side, India brings in XLPE (cross-linked polyethylene) insulation compound, specialty alloy conductors, and advanced optical fibre preforms from Germany, Japan, and the US. Import substitution in fibre preforms is a long-term opportunity as domestic optical fibre technology matures.
Major Indian Wire and Cable Manufacturers
|
Company |
Segment / Note |
|
Polycab India |
India's largest listed cable maker; building wires and power cables |
|
Havells India |
Building wires and cable; FY24 capacity expansion in Alwar plant |
|
RR Kabel |
Power cables and building wires; strong retail and DISCOM supply chain |
|
KEI Industries |
EHV and HT power cables; major DISCOM and industrial client base |
|
Finolex Cables |
PVC and optical fibre cables; Rs. 500 crore fibre expansion commitment |
|
Apar Industries |
ACSR/HTLS conductors; tripled CTC conductor capacity to 20,490 MT (FY26) |
|
UltraTech (new entrant, 2025) |
INR 18 billion wire plant in Gujarat under construction; commissioning 2026 |
|
Ultracab (MSME-scale) |
Solar and specialty cables; USD 5.7 million export order from Sterling & Wilson (2023) |
The Growth Horizon: Wire and Cable Market to 2035
At the stated assumption of a 7% CAGR from Fortune Business Insights' FY2032 projection of USD 17.08 billion, India's wire and cable market could reach approximately USD 23 billion by 2035. The Mordor Intelligence estimate for 2026 baseline already values the market at USD 23.1 billion at 9% CAGR to USD 35.6 billion by 2031 — reflecting the wide range of estimates for this fast-moving market.
The demand certainty comes from locked-in government programmes. The NEP 2022-2027 transmission line additions, the RDSS underground cabling mandates, the 500 GW renewable target, and metro rail expansions all require cables on programmatic, multi-year timelines. Organised manufacturers with BIS certification, supply track records with utilities, and export capability are positioned to capture a disproportionate share of this growth.
Solar cables and EV charging cables are the two new demand categories that will add incremental growth beyond the traditional infrastructure market. PM Surya Ghar Muft Bijli Yojana (1 crore rooftop solar installations target) alone represents hundreds of millions of metres of solar cable demand — an addressable market that MSME solar cable manufacturers can specifically target.
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Raw Material Alert for New Manufacturers Copper and aluminium are the primary conductors in cable manufacturing, accounting for 50-70% of production costs. These are globally traded commodities with significant price volatility — copper in particular can swing 25-30% in a year. New manufacturers must build raw material cost variance into their pricing models and avoid fixed-price long-term supply contracts without hedging. Aluminium cables are growing in market share relative to copper because of lower raw material cost — and in many power distribution applications, aluminium conductors now meet specifications that historically required copper. Factor conductor metal choice into your product strategy from day one. |
Practitioner Q&A: Wire and Cable Manufacturing Business in India
Q1: Which cable product is the best entry point for an MSME manufacturer?
Building wires — PVC-insulated copper wires for domestic electrical wiring (0.5 sq. mm to 16 sq. mm) — are the highest-volume, lowest-technical-barrier entry point. Demand is broad across residential construction, industrial wiring, and commercial fit-outs. BIS IS:694 certification is required. Minimum setup investment is Rs. 1-2 crore for a small building wire unit producing 5-10 metric tonnes per day. A close second entry point is LT power cables for DISCOMs and residential developers — slightly higher technical barrier but larger order sizes.
Q2: What BIS certifications are mandatory for cable manufacturers?
IS:694 (PVC insulated cables, domestic and building wires), IS:1554 (PVC sheathed power cables up to 1.1 kV), IS:7098 (XLPE insulated power cables), and IS:8130 (conductors for insulated cables) are the core mandatory certifications. For solar cables, IS:16613 is relevant. Without BIS certification, supply to government projects, real estate developers, and industrial buyers is not permitted. The BIS certification process requires factory inspection, product testing at BIS-approved labs, and ongoing surveillance audits — budget 4-6 months for first certification.
Q3: How can an MSME cable manufacturer access government utility procurement?
Register on GeM (Government e-Marketplace) — state DISCOMs and Central PSUs procure cables through GeM. Obtain DISCOM vendor approval: most state power utilities have a vendor empanelment process where you submit BIS certification, manufacturing capacity data, and product samples for testing. Once empanelled, you can bid in open tenders. RDSS-linked tenders for distribution network upgrades are the most active procurement category right now across all states.
Q4: What is the export potential for Indian cables?
India is already a significant cable exporter with USD 116.67 billion in total engineering exports (FY25 record) and cable exports growing at 44% CAGR to the US. The primary export categories are building wires and LT power cables to UAE, Africa, and Southeast Asia; specialty conductors (ACSR, HTLS) to the US; and fibre optic cables to Africa and South Asia. EEPC India registration, IEC standard compliance for export products, and BV/SGS inspection certification for international buyers are the standard export qualification steps. Participation in ELECRAMA (India's largest power industry exhibition) is the most effective way to generate initial export inquiries.
Q5: How does India's renewable energy target affect cable demand?
The 500 GW renewable energy target (MNRE) requires enormous cable infrastructure for both solar and wind generation. Utility-scale solar parks use EHV cables for grid connection and HV DC collection circuits within the park. Rooftop solar under PM Surya Ghar Muft Bijli Yojana (1 crore installations) requires specialised solar DC cables (UV-resistant, double-insulated). Wind energy requires long submarine or buried cables from turbines to grid substations. For a cable manufacturer, the renewable energy sector represents a diversified demand base within a single market.
Q6: What raw materials go into cable manufacturing and how are they sourced?
Electrical-grade copper and aluminium rod (for conductors) and PVC or XLPE compound (for insulation and sheathing) are the primary inputs. Copper rod is sourced from Hindalco and Sterlite/Vedanta; aluminium rod from Vedanta and Nalco — both available domestically. PVC compound is available from domestic polymer manufacturers including Finolex Polymers and Reliance Industries. XLPE compound is partially imported (Germany, South Korea) but increasing domestic availability. Steel wire armour (for armoured cables) is widely available domestically.
Q7: How significant is the solar cable market as an MSME opportunity?
Solar cables are one of the highest-growth sub-segments in the cable market — growing at 12.9% CAGR from USD 67 million in FY2025 toward USD 176 million in FY2033 (industry estimate). They are technically distinct from standard power cables: they require UV-resistant jacketing, high-temperature ratings, and TUV or BIS IS:16613 certification. The rooftop solar market (PM Surya Ghar) creates distributed demand across installation companies rather than concentrated utility procurement — potentially accessible for MSME manufacturers supplying regional solar installers.
Q8: What quality standard applies to cables for metro and railway projects?
Metro rail cabling requires compliance with IEC 60502 (power cables) and RDSO (Research Designs and Standards Organisation) specifications for signalling and traction cables. RDSO vendor approval is a specialised certification that opens access to Indian Railways and metro project tenders. It requires plant inspection, test report submission, and product qualification testing at RDSO labs in Lucknow or CPRI Bangalore. This is a higher-barrier but higher-margin market where approved vendors command significant order volumes over multi-year project periods.
Q9: What are the working capital requirements for a cable manufacturer?
Cable manufacturing has high working capital requirements relative to many other MSME industries because copper and aluminium — expensive, globally traded commodities — must be purchased before the cable is produced and sold. A small cable manufacturer producing 5 MT/day needs approximately Rs. 1.5-2 crore in working capital for raw material stocking and debtor financing. Advance payment or Letter of Credit from buyers (especially in government utility procurement) significantly reduces this burden. Working capital credit from CGTMSE-backed bank loans is essential for bridging procurement-to-payment cycles.
Q10: Is there opportunity in niche specialty cable segments for MSMEs?
Yes — and this is where MSMEs often outcompete large players. Specialty cables for mining, defence, shipbuilding, nuclear, and data centres have lower volumes but higher per-unit realisations and less price-based competition. Defence cables require DGQA (Directorate General of Quality Assurance) qualification, which UKB Electronics achieved in 2023. Mining cables require flame-retardant and anti-static properties per IS:14494. These specialty segments reward technical investment and reduce competitive pressure from commodity cable manufacturers.
Q11: How can I differentiate a new cable brand in a market dominated by Polycab and Havells?
Focus on underserved geographic markets and channels. Polycab and Havells dominate national retail and major project procurement — but regional builders, local electricians, and Tier 3 city wholesale markets are often underserved by national brands' distribution reach. A regional cable brand with better service reliability, faster delivery, and competitive pricing can build a loyal customer base among local electrical contractors and small developers. Alternatively, focus on a specialty product (solar cables, armoured power cables, fire survival cables) where national brands have less dominance and buyers need technical competence over brand recognition.
The Bottom Line
India's wire and cable manufacturing sector is one of the most demand-certain MSME opportunities in the country today — driven by locked-in government infrastructure programmes, export growth that is already proven, and multiple new demand categories from renewable energy and digital infrastructure.
The single strongest reason to enter is the RDSS scheme — which mandates distribution infrastructure upgrades across every state, creating sustained DISCOM procurement for power cables over the next 5-7 years. Combined with metro rail, solar energy, and EV charging demand, the order pipeline visibility is as good as it gets in manufacturing.
Government support is directly operational: BIS certification is your market access key, GeM procurement is live, EEPC facilitates exports, and CGTMSE covers working capital credit. The most important first step is to select your cable category, get BIS certification, and register with two or three state DISCOMs as a vendor — your first repeat orders will come from that relationship.
References
- Ministry of Power, Government of India — Annual Report 2025 (peak demand data, RDSS scheme, grid expansion); National Electricity Plan (NEP) 2022-27, CEA
- Ministry of New and Renewable Energy (MNRE), Government of India — 500 GW renewable energy target; PM Surya Ghar Muft Bijli Yojana
- EEPC India (Engineering Export Promotion Council), Ministry of Commerce — Engineering exports FY25 record (USD 116.67 billion); cable and wire export CAGR data
- Indian Railways, Ministry of Railways — Railway network electrification status (93.83%), 2025
- Ministry of Finance, Government of India — Union Budget 2023-24 metro rail allocation (Rs. 19,518 crore)
- Bureau of Indian Standards (BIS), Ministry of Consumer Affairs — IS:694, IS:1554, IS:7098, IS:8130 cable certification standards
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