Finolex Cables Ltd, a leading manufacturer of electrical and communications cables, is looking to expand its market presence in the northeast, especially Assam, spurred by the government’s infrastructure and electrification push, a company spokesperson said.
He said the market expansion will be long-term, and improved connectivity in the northeast is helping the company expand into more parts of the region.
“The northeast is a key focus market for us and has been witnessing steady traction over the past few years. While the region is still evolving in terms of organised market share visibility, we have seen our revenue doubling in the last four years,” the spokesperson and president of sales and marketing, Amit Mathur, told PTI.
He said the growth was driven by “expanding distribution and rising brand preference”.
The eastern region currently contributes to around 15 per cent of the company’s revenue, with the northeast states contributing to around 17 per cent of the regional sales.
“We expect the northeast to emerge as a high-growth region, with its contribution to our overall business likely to increase over the coming two to three years,” Mathur added.
The spokesperson said the demand momentum has picked up in the region in the last four to five years, and maintained that it was a “structural, long-term growth trend rather than a short-term spike”.
Key drivers for the rise in demand include a strong infrastructure push by the government, including investments in roads, railways and housing, which are directly boosting demand for wires and cables.
Additionally, schemes focused on rural connectivity and power distribution are expanding the addressable market, Mathur said, adding that the government’s focus on solar power was boosting Finolex’s solar business in the region.
“We are also seeing increased real estate activity in cities like Guwahati, Shillong, and Agartala, along with growth in small businesses and commercial establishments, which is further accelerating demand,” he said.
About the company’s distribution network in the region, the spokesperson said a multi-layered network has been developed to ensure deeper penetration across both urban and semi-urban markets.
“We are confident that the northeast will become a key growth driver for the company over the next few years, contributing meaningfully to our national expansion strategy,” Mathur added.