The company sees electric mobility as the next area of expansion. The growth in renewable energy has led Paras to also explore the requirement from winds mills and solar farms.

 

Paras Enterprises, the New Delhi-based marketer of heat shrinkable tubings that are used in automotive industry, is looking at expansion as it draws up future growth plans for the company. Currently, in its twenty-second year of operation, the company aims to service emerging industries like electric vehicles and renewable energy. Subject to market conditions, the firm has also drawn up plans to enter into manufacturing.

 

“As our primary product, the heat shrink tubing is extremely versatile and can easily be incorporated in a wide range of electrical equipment. We have recently been exploring the lighting industry, specifically LEDs. Of late there is an increase in demand for the cold shrink tubing, which is especially useful for weatherproofing kits used in cell phone towers,” said Manishh Bhalla, Director, Paras Enterprises, while speaking exclusively to IPF’s Manish Pant. Bhalla hopes to someday also expand to railway and aviation sectors as well.

 

Paras is a leading supplier of heat shrinkable tubing since 1996. In over two decades of its existence, the firm has built a strong base of over 1,000 customers that include big-ticket names like Audi, Honda, Volkswagen, Hyundai, Maruti, Samsung, Huber Suhner and Isabellenhaüte. As a representative of the Hutchinson Group company, Chang Yuan Electronics (CYG), Paras offers a comprehensive range of tubing in various sizes and colours, with certified quality labels including UL, KEMA and CSA. The firm stocks products ranging from professionally designed and manufactured heat shrink tubing, joints and terminations for all types of cables up to 36KV. These comprise of the dual wall, adhesive coated tubing, flame retardant polyolefin tubing, bus bar, anti-tracking tubing along with cold shrink tubing and more.

 

Paras primarily focuses on the automotive industry wherein heat shrink tubing can be utilised in several components including wire harness, brake line and hose pipes. Over the years it has also become a supplier to industries like telecom, white goods and power cables. 

It was on the midnight of July 1, 2017 that India rolled out the Goods and Services Tax (GST). At the time of its introduction, there was a lot of apprehension about the new tax regime having a negative impact on the world’s sixth largest economy’s MSME segment. A year later how does Paras perceive the situation on the ground?

 

“GST has been fundamental in revitalising the complex tax structure and comprehensively summarising it to its bare bones. The implementation of GST has brought clarity and ease to our workflow thereby increasing efficiency. The constant re-evaluation and amendment of the scheme are also invigorating and encouraging,” replies Bhalla.

 

Presently, Paras directly imports from CYG in China. But this is also a time when there is a conscious attempt to establish the country as a pre-eminent global manufacturing hub under the government’s ‘Make in India’ initiative. Most recently, South Korean electronics giant Samsung Electronics Co. Ltd unveiled the world’s largest mobile phone production factory in Noida near Delhi. “We do envision setting up a manufacturing plant as our five-year goal plan, provided the economic growth remains steady,” explains Bhalla.

 

Bhalla anticipates that automotive, telecom and power cable sector will continue to contribute to Paras’ growth. He is particularly excited about the tremendous scope for electric mobility in India and sees it as the next area of expansion. The growth in renewable energy has led Paras to also explore the requirement from winds mills and solar farms.