Startup India Initiative inspires EDI student to start indigenous production of busbars
- Rate this article (Average Rating 0.0 Based on 0 ratings)
Meeting the Need of Busbars in the country!
Startups are fast beginning to make a name for themselves across the country with all that they are achieving. It wasn’t long ago that a new startup, started by EDI student Rishabh Hundia, who aims at meeting a production gap for busbars, took its first steps into the world.
The Inspiration behind the Idea
The idea that laid the foundation for the emergence of Bus bar Manufacturing arose when the Rishabh Hundia was attending a ‘Make in India’ conference. It was at that same moment that the student’s father advised him to look at the copper bus bar market and see if that line of business appealed to him.
Belonging to a family that has been in the metal industry for the last four decades, Rishabh Hundia has always been around metals and had grown up with the desire to work with them. This was what gave birth to a love and attraction towards metals, right from a young age. This was how the first seeds of a Busbar manufacturing startup came to be planted in his young, innovative mind.
About Busbar Manufacturing
The way a busbar works is that it conducts electricity within various heavy electrical appliances. It is also used for switchboards, substations or distribution boards. Copper busbars are very useful for power grids as they help bring down the power loss substantially. They are used to conduct a substantial current of electricity but the amount of current that can be carried in them depends on the composition of material used and the cross-sectional size of the busbar.
However, the current condition of the metal industry as a whole is not at a very good place, on both the national front as well as the international front. So given that the industry is in a difficult situation, right now this young entrepreneur is working on learning about the situation in the country so that he can come up with a good plan of revival. If all goes well, the future for copper busbars is likely to be bright.
The Future of This Startup
By trying to stick to the ‘Make in India’ policy, wherein the Government focuses on setting up manufacturing units in India, there is certainly a lot of potential for this company to grow. There will certainly be a lot of demand for the product by new manufacturing units that will require it for electrification purposes.
However, currently copper busbars are being imported in thousands of tons into the country and since 2010, the demand for them has been growing at 11 percent every year.
It would be a true Startup India Initiative!
- Why one should convert newly started small business enterprise into a start-up
- E-commerce: 100% FDI in Marketplace model – what changes?
- What metrics are commonly used to evaluate companies in the food and beverage sector?
- Politics and the destruction of the Indian Sugar industry
- Insurance sector expands in 2014, set to move faster in 2015
Have a question?
Also On IndiaNotes.Com
- Balkrishna Ind Q3FY17: Company has performed despite slow global growth and currency fluctuations; Buy
- Bharat Electronics OFS - A Value BUY