Electroplating industry pegged at Rs 12,000 cr on back of high EV demand

Backed by the high demand for electric vehicles, batteries, and hydrogen, the electroplating industry in the country is estimated to be at Rs 12,000 crore, a top industry official said.

Homi Bhabha National Institute Vice-Chancellor U Kamachi Mudali said the electroplating industry globally was expected to grow to $30 billion.

The sector has over three lakh electroplaters present across the country, Mudali noted at the fourth edition of Surface and Coating Expo 2023 here organized by Confederation of Indian Industry (CII).

"This (surface and coating) industry today is estimated to be about Rs 12,000 crore. Globally, this industry is expected to grow to $30 billion 2030 from the current $20 billion."

Ramik Shah, Director of Ronuk Group, which is engaged in the manufacturing and supplying of metal finishing and plating, said India was poised to grow in the next decade as many electroplating and global companies were setting up shop in India.

"To offer and be a world-class country, we need to improve ourselves, educate and get the best practices in the world and implement it so that we are at par or better than what is available in the world."

"India is recognized for producing quality products," he said.

In his address, MKS Atotech Managing Director Naveen Goudar said, "Electroplating is nothing more than a small-time business. With EVs, batteries, and hydrogen requirements in high demand, maintaining international quality is extremely important and we need to maintain global quality standards."

"Two more challenges that need to be addressed are how sustainable and environmentally conscious we are and how quick we are in leveraging the available talent." he said.