In India, the PVC pipe business was almost valued at $3,160 million in 2016 and is estimated to reach $6,224 million in the coming 5 years, growing at a CAGR of 10.2% from 2017 to 2023. Also, the wires and cables business in India has shown tremendous growth in recent years on account of the rising demand for wires fueled by expansion in infrastructure development, electricity consumption, and others.
The surge in revenue has primarily originated from growth in power cables as a segment of the wires and cables market. The upsurge in this section has been mainly led by domestic factors such as expenditure on infrastructure, an increase in the level of investment, a rising level of disposable income, and technological advancement.
Therefore, if you are planning to start a PVC pipe and wire business in India, in such an ever-developing country, this could be an outstanding business option.
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