Adani and Birla Step into Wires and Cables Market

Adani entered the wires and cables sector through Praneetha Ecocables. UltraTech Cement announced a separate manufacturing investment as part of its expansion into building materials.

• India’s wires and cables market was valued at around ₹83,659 crore ($8.7 billion) in 2023.
• The market could reach approximately ₹1,63,472 crore ($17 billion) by 2032.
• The sector recorded an estimated 13% CAGR between FY19 and FY24.
• Organised companies increased their share from 66% in FY18 to over 74% in FY24.
• Adani’s venture is linked with its copper, power, logistics, and infrastructure businesses.
• UltraTech plans to invest ₹1,800 crore ($187.2 million) over two years.
• Its manufacturing facility is expected to become operational by December 2026.

The Indian wires and cables market is growing due to urbanisation, infrastructure development, construction activity, and increased electrification across industries.

The organised sector’s share increased from approximately 66% in FY18 to more than 74% in FY24. It is expected to reach nearly 80% by FY27.

Several factors are supporting this shift:

• Safety requirements: Buyers are paying greater attention to product quality and electrical safety.
• Brand awareness: Consumers and contractors increasingly recognise established manufacturers.
• Formal construction: Large projects generally require products that meet documented technical standards.
• Distribution expansion: Organised manufacturers are reaching smaller cities through wider dealer networks.
• Specialised applications: Modern industries require cables that offer consistent performance.

These changes provide opportunities for existing manufacturers and new entrants. However, companies must build manufacturing capacity, maintain quality, and develop reliable distribution networks.

What are the market’s size and growth projections?

The Indian wires and cables sector recorded an estimated compound annual growth rate of approximately 13% between FY19 and FY24.

The market’s expansion is being supported by investments in housing, power distribution, transportation, renewable energy, manufacturing, and digital infrastructure.

Important demand areas include:

• Residential construction: Homes require wires for lighting, appliances, communication systems, and electrical distribution.
• Commercial construction: Offices, hotels, hospitals, and shopping centres use extensive wiring systems.
• Industrial projects: Factories require power, automation, control, and communication cables.
• Renewable energy: Solar and wind projects need cables to collect and transmit electricity.
• Electric vehicles: Vehicles and charging stations use specialised electrical and communication cables.
• Data centres: These facilities require reliable power and data transmission systems.

Government initiatives supporting domestic manufacturing, housing, and infrastructure may also contribute to demand. However, market growth will depend on investment levels, construction activity, and economic conditions.

Who are the main players in the market?

The Indian wires and cables market includes established companies such as Polycab India, Havells India, KEI Industries, and Finolex Cables.

The market remains fragmented despite the presence of large manufacturers. Several regional and unorganised companies continue to operate across different product categories.

The entry of Adani and UltraTech may increase competition for established manufacturers. It could also make it more difficult for smaller businesses to compete without sufficient scale, certification, and distribution.

The Adani Group entered the wires and cables sector through the establishment of Praneetha Ecocables Ltd.

The venture complements the group’s existing interests in infrastructure, electricity, renewable energy, transportation, logistics, and copper manufacturing.

These connections could help Adani integrate raw material procurement, cable production, transportation, and infrastructure demand.

Praneetha Ecocables may eventually supply products for power, construction, transportation, and renewable energy projects. However, its market position will depend on manufacturing execution, certifications, distribution, pricing, and customer acceptance.

How does the joint venture with Kutch Copper work?

Praneetha Ecocables Ltd. has been structured as a 50:50 joint venture involving the Adani Group and Kutch Copper Ltd.

Kutch Copper is developing a large greenfield copper refinery in Gujarat. Copper is a primary raw material used in electrical wires and cables.

This arrangement could provide several operational benefits:

• Raw material availability: Internal copper production may provide a more reliable supply.
• Supply chain control: The venture may reduce dependence on external suppliers.
• Cost management: Direct sourcing could improve control over procurement expenses.
• Quality consistency: Integration may help maintain standardised raw material specifications.
• Production planning: Copper output and cable manufacturing can be coordinated more closely.

Copper prices remain affected by global demand, supply disruptions, currency movements, and economic conditions. Vertical integration may reduce certain procurement risks, but it cannot eliminate commodity price volatility.

How can Adani use its existing infrastructure projects?

Adani’s presence in power generation, renewable energy, ports, logistics, and transportation may provide a ready application base for wires and cables.

The group could use cables across its own infrastructure projects while also supplying products to external customers.

Potential operational synergies include:

• Supplying cables to electricity and renewable energy projects.
• Using existing logistics networks to transport raw materials.
• Integrating copper manufacturing with cable production.
• Serving transportation and industrial infrastructure projects.
• Coordinating procurement across group companies.

Adani’s port and logistics network may also support nationwide product distribution. However, dealer relationships and external customer demand will remain important for building a sustainable market presence.

UltraTech Cement, part of the Aditya Birla Group, announced its entry into the wires and cables market as an extension of its building materials business.

The company already supplies cement, concrete, and other products used in construction. Adding electrical components could help it serve a broader range of requirements within construction projects.

Wires and cables are required alongside cement and concrete in residential, commercial, and infrastructure developments. This creates a natural connection between UltraTech’s existing operations and the new category.

The company may also use its existing relationships with builders, contractors, retailers, and distributors. However, electrical products require different technical capabilities, manufacturing standards, and certifications.

What are UltraTech’s investment and plant plans?

UltraTech plans to invest ₹1,800 crore ($187.2 million) over two years to establish its wires and cables manufacturing operations.

The proposed facility is expected to become operational by December 2026.

How will electrical products fit UltraTech’s portfolio?

UltraTech’s existing portfolio includes cement, concrete, and other construction-related products. Wires and cables could extend their presence into another important construction category.

The company may be able to use its existing distribution network and customer relationships to introduce its electrical products.

The integration could provide the following advantages:

• Broader product coverage: UltraTech could supply both structural and electrical construction materials.
• Existing distribution: Dealer relationships may support the availability of the new products.
• Customer access: Builders and contractors already purchasing construction materials may form a relevant customer base.
• Cross-category reach: The company could participate in a larger portion of construction spending.

However, UltraTech will compete with manufacturers that already possess recognised electrical brands and technical expertise. It will need to establish product quality, safety, and reliability.

The entry of the Adani Group and Aditya Birla Group could reshape competition across manufacturing, procurement, pricing, technology, and distribution.

Both groups possess the financial resources to invest in large manufacturing facilities and supply chain infrastructure. They may also use their existing business networks to accelerate market entry.

Possible changes within the sector include:

• Increased investment in manufacturing capacity.
• Greater competition for dealers and distributors.
• Stronger focus on product quality and certification.
• More investment in specialised cable categories.
• Pricing pressure across mass-market products.
• Consolidation among smaller manufacturers.

Consumers and commercial buyers could gain access to more product choices. However, increased price competition may place pressure on manufacturer margins.

The eventual impact will depend on how quickly the new entrants establish production, obtain certifications, develop distribution networks, and build customer trust.

What could their entry mean for Polycab and Havells?

The entry of Adani and UltraTech presents both challenges and opportunities for established manufacturers such as Polycab and Havells.

These companies already possess established brands, manufacturing experience, dealer networks, and customer relationships. Such strengths may help them respond to increased competition.

Existing manufacturers may consider:

• Expanding production capacity.
• Strengthening dealer and retail networks.
• Developing specialised products.
• Improving manufacturing efficiency.
• Investing in quality and innovation.
• Expanding into exports and new domestic markets.

New entrants may require time to establish technical capabilities and nationwide distribution. Existing companies could use this period to strengthen their customer relationships and product portfolios.

However, pricing pressure and market share competition may increase once the new manufacturing facilities begin operating at scale.

What challenges and opportunities could the market create?

India’s wires and cables market offers significant expansion opportunities. However, manufacturers must manage raw material costs, competition, product quality, and distribution challenges.

Copper price volatility is a major concern because copper is a primary input in wire and cable manufacturing. Higher copper prices can increase production costs and reduce profit margins.

Manufacturers must also comply with applicable quality and safety requirements. Substandard electrical products can create fire, shock, and equipment-related risks.

Companies that manage raw materials, manufacturing efficiency, product quality, and distribution effectively may benefit from the market’s growth. However, rising demand does not automatically ensure commercial success.

India’s wires and cables market is set for stronger competition as Adani and UltraTech expand into the sector. Their manufacturing scale, supply chain capabilities, and existing business networks could influence pricing, distribution, and product development. Established companies may respond through capacity expansion, innovation, and stronger dealer relationships. However, copper price volatility, execution risks, and customer acceptance will remain important. The sector’s long-term growth will depend on infrastructure spending, electrification, renewable energy, construction, and data centre demand.

The rupee conversions mentioned in this article are based on the USD to INR exchange rate applicable on 15 July 2026. Actual values may vary due to exchange-rate fluctuations.