New Delhi New Delhi: Billionaire Gautam Adani’s group and Aditya Birla Group are now set to compete with each other in the wires and cables industry. Both the groups have recently announced their entry into this high-growth sector, which is mainly dominated by unorganized players and some small companies.
In the last one month, both these groups announced their entry into the wires and cables segment, increasing competition in the sector. The sector has registered a compound annual growth (CAGR) of 13% between FY19 and FY24 and is now moving towards an organized and branded market.
Earlier, Adani Enterprises had set up a joint venture, Pranita Ecocables, through its subsidiary Kutch Copper Limited. At the same time, UltraTech Cement of Aditya Birla Group has planned to invest Rs 1,800 crore in the wires and cables sector.
