Bangalore: ABB India has invested Rs 15 crore in a manufacturing unit in Bangalore to produce electrical wiring accessories, marking the firm's entry into the fast growing segment in the country.

ABB India Vice Chairman and Managing Director Ravi Uppal told reporters in Bangalore today (May 3, 2004) that the firm will make an initial debut in South India with it's electrical wiring accessories including switches to capture a share in the Rs 800 crore organised electrical wiring accessories market.

"The market is growing at a 12 per cent to 15 per cent rate, about Rs 100 crore annually and we hope to gain some share," Uppal said.

The growth, he said, is fuelled by rising construction activities in both commercial and residential segment across the country.

Uppal said the Company would leverage its over 400 channel partners to target both institutional and retail buyers in the country.