In less than a month, both groups -- who have been fiercely competing in the cement sector leaving smaller players way behind -- announced their entry into the wires and cables segment, which is dominated largely by unorganised players and some smaller companies.
Entry of the two big players will intensify competition in the wires and cables industry, which posted 13 per cent compound annual growth rate (CAGR) in revenue between FY19 and FY24 and is migrating towards an organised branded market.
After cement, billionaire Gautam Adani's group and Kumar Mangalam Birla's Aditya Birla Group are set for a face-off in the wires and cable business with both conglomerates announcing forays into the high double-digit growth sector.
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