Advantage India
Growing
Demand
* India’s smart TV market grew by 74% YoY in the second quarter of 2022, with Xiaomi being the leader with a 13% market share, followed by Samsung at 12%.
* The dishwasher market in India is expected to surpass US$ 90 million by 2025-26, driven by rising demand from metro cities such as Mumbai, Hyderabad, Delhi and Bangalore.
Opportunities
* Tech players are focusing on tapping the Indian consumer electronics market by developing an electronic components manufacturing base in India and encouraging exports.
* Consumer electronic brands are focusing on expansion in the Indian smart wearables market.
Policy
Support
* 100% FDI allowed in the electronics hardware-manufacturing.
* In July 2021, the government approved 14 companies under the production linked incentive (PLI) scheme for IT hardware. Over the next four years, these companies are expected to fuel total production of US$ 21.64 billion.
Increasing
Investments
* In FY23, Godrej Appliances announced plans to invest Rs. 200 crore (US$ 25.11 million) in the capacity expansion of its premium range.
* Between April 2000-June 2022, electronic goods attracted FDI inflows of US$ 3.68 billion.
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