According to the Confederation of Indian Industry (SMI April 2008), in 2005 the world’s wire and cable industry reached an estimated total of 20 billion US $ and is expected to climb to 25 billion US $ by 2010.
The spring manufacturing sector is relatively small in the global wire and cable industry for India. Most of the numerous Indian spring manufacturers are family-owned businesses that lack the automated machines for high-production spring making. The purchase capabilities and operating capabilities for semi-automatic and automatic machines are currently financially out of reach for many Indian spring manufacturers.
The wire and cable industry is expected to grow in India as India begins to modernize its manufacturing methods and production reaches out to a larger world market as opposed to mainly serving its local market.