Finolex Cables Sets Sights on Northeast Expansion Amid Infrastructure Boom

Finolex Cables Ltd plans to expand its operations in northeast India, capitalizing on government-led infrastructure initiatives. The company has already seen revenue double in this region over four years due to enhanced distribution and increased brand preference. A focus on infrastructure and solar power is driving this growth.

Finolex Cables Ltd, a prominent manufacturer in electrical and communications cables, is eyeing significant growth in northeast India, particularly in Assam. This comes as the region benefits from government initiatives in infrastructure and electrification, according to a company spokesperson.

The northeastern market is seen as a key focus area, with Finolex reporting revenue doubling over the last four years. The growth is attributed to expanding distribution networks and heightened brand recognition, said Amit Mathur, President of Sales and Marketing. The eastern region now contributes 15% to the company's revenue, with northeastern states accounting for 17% of these sales.

Infrastructure projects, including investments in roads and railways, are seen as prime factors driving demand for cables. Additionally, rural connectivity and power distribution schemes are expanding the market. Mathur noted that increased real estate activities in cities such as Guwahati and Shillong, coupled with growth in small businesses, are accelerating demand, solidifying the northeast's role as a future growth driver for Finolex.

(With inputs from agencies.)