Advantage India
Robust
Demand
* India has strong design and R&D capabilities in auto electronics and industrial economics. India is the second-largest manufacturer of mobile phones in the world and will be the fifth-largest consumer of electronic products by 2025.
* In FY23, the exports of electronic goods were recorded at US$ 23.57 billion as compared to US$ 15.66 billion during FY22, registering a growth of 50.52%.
Competitive
Advantage
* India committed to reach US$ 300 billion worth of electronics manufacturing and exports of US$ 120 billion by 2025-26.
* India is home to considerable talent for electronic chip design and embedded software.
Policy
support
* The production-linked incentive (PLI) schemes will provide companies opportunities to establish manufacturing plants in India.
* Major Government initiatives such as ‘Digital India’, ‘Make in India’ and supportive policies including favorable FDI Policy for electronics manufacturing have simplified the process of setting up manufacturing units in India.
Increasing
Investments
* Post COVID, the Government of India aims to increase India’s contribution by around US$ 400 billion worth of electronics goods including exports worth US$ 120 billion, which would account for 9-10% of the overall global value chains, from the current supply potential of 1-2%.
Onida
Onida, formerly Mirc Electronics, was established in 1981 and is headquartered in Mumbai, Maharashtra. The company started with a goal of manufacturing TV sets, transformed into a complete consumer durables company with a wide product portfolio including flat-panel TVs (LED LCD TVs), air conditioners, washing machines, microwave ovens, DVD home theatre systems, mobile phones, projector systems and LED lights. The company has manufacturing facilities at Wada (Maharashtra) and Roorkee (Uttarakhand).
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Voltas Limited
Voltas Ltd. is part of the Tata Group and the largest air conditioning company in India. It was established in 1954 and is headquartered in Mumbai, Maharashtra, with regional offices across major Indian cities. The company operates in the following three segments unitary cooling products, electromechanical projects & services and engineering products & services. The company has one of the largest distribution networks in India with more than 15,000 touchpoints in FY20. In consumer durables, the company manufactures room air conditioners and air coolers. It was a leader in the room ACs segment with a 24.2% market share in FY20, whereas it held the second position in air coolers.
Read MoreLava International Ltd
Established in 2009, Lava International Ltd., is an Indian mobile handset manufacturer. Since its inception, the company has been at the forefront in building a robust ecosystem of design and manufacturing mobile handsets. With ‘Create Possibilities’ as its guiding principle, Lava has embarked on an ambitious journey of becoming the 1st global consumer brand from India by empowering every human with quality innovative products. In line with the Govt. of India’s ‘Make in India’ initiative, Lava has taken the lead in support of this important nation-building programme and has already set-up a design team in India, becoming the first company to do so in the country. Lava products are available through a nationwide retail network of 165K retailers, who in turn are directly served by over 1000 distributors. Lava’s after-sales service network is one of the largest in the country with close to 800+ professionally managed service centres.
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