India's Cables and Wires Sector Set to Exceed USD 10 Billion by 2033

India's cables and wires industry is preparing for a high-voltage decade, projected to grow from USD 6.6 billion in 2024 to USD 10.9 billion by 2033, at a compound annual growth rate (CAGR) of 5.8 percent.

As per the report, power cables alone will expand from USD 6.1 billion to USD 9.5 billion, while telecom cables are set to rise from USD 1.8 billion to USD 2.9 billion, both clocking over 5 percent CAGR. This was revealed in a report by Infomerics Ratings titled 'Industry Outlook – Cables and Wires'.

This electrifying growth is powered by India’s ambitious infrastructure plans, with the government allocating INR 9.12 lakh crore in FY26, a 25 percent year-on-year increase, to upgrade power systems, railways, and real estate. Simultaneously, India’s transition to renewable energy, targeting 500 GW of non-fossil fuel capacity by 2030, and a push for 30 percent electric vehicle (EV) adoption are spurring demand for specialized and high-performance cables.

In the power sector, demand is surging for high and low voltage cables to support grid modernisation initiatives such as the INR 3 lakh crore RDSS scheme and renewable projects like the Green Energy Corridors. Cost-effective aluminum conductors remain the material of choice for India’s expanding transmission network.

On the telecom front, the rollout of 5G and BharatNet Phase III is driving a sharp rise in fiber-optic cable usage, supported by 1.17 million FTTH connections in 2024 and government plans to connect 270,000 villages by 2030. Subsea cable investments, including Meta’s 50,000-km Project Waterworth, further position India as a global data hub.

The automotive segment is witnessing a wiring revolution. With EVs requiring nearly three times more cabling than internal combustion vehicles, the EV charging infrastructure is projected to require an INR 16,000 crore investment by 2030. The wiring harness market is expected to grow from USD 4.93 billion in 2024 to USD 6.25 billion by 2035.

Railway electrification, already at 95 percent, and metro expansion projects are fueling demand for signaling and overhead line equipment cables. Meanwhile, real estate, driven by schemes like PMAY and the Smart Cities Mission, accounts for 33 percent of the residential wiring market, with a growing shift toward flame-retardant and halogen-free cables.

Leading the pack is Polycab, with a 20–22 percent market share and strong quarterly growth of 33 percent YoY. Close behind, KEI Industries reported a 34 percent rise in Q4 FY25 profits, driven by export momentum to Africa and Southeast Asia. RR Kabel, deriving 25 percent of revenue from exports, is focusing on EV and telecom segments, while Havells and Finolex continue to navigate growth with a focus on product diversification and regulatory advocacy.

Exports are emerging as a major growth lever. Under the 'China+1' strategy, Indian cable exports to the US have grown at a 44 percent CAGR between FY17 and FY24. Domestic fiber production crossed 100 million fiber-km in FY24, solidifying India’s position as a net exporter.

Yet, the industry faces formidable challenges. Volatile copper and aluminum prices, sometimes declining 3–7 percent month-on-month, are squeezing margins. The unorganized sector, controlling nearly 35 percent of the low-voltage market, continues to undercut prices with substandard products. Regulatory inconsistencies, particularly around BIS and CEA standards, along with rising RoHS and REACH compliance costs, add to the headwinds.

India's path forward includes deep investments in R&D for high-voltage DC lines, IoT-enabled cables, and bend-insensitive optical fibers. A transition to recyclable materials and energy-efficient manufacturing is critical to align with sustainability goals. Industry leaders are also prioritizing vertical integration to secure raw materials and pushing for global certification to access high-value international markets.

With digital connectivity, EV adoption, and green power all accelerating, India’s cable and wire industry is at the heart of the country’s transformation. Experts forecast double-digit growth of 10–12 percent CAGR through 2030, contingent on innovation, export competitiveness, and resilience to supply shocks. Those investing in high-margin niches, like extra high voltage (EHV) cables, solar wiring, and smart infrastructure, are poised to lead this electrified future.