Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing

Electronics Manufacturing Services market is looking to grow at 33% over the next four to five years. Pic Courtesy: Syrma SGS

Synopsis

Making for others can be more lucrative than building a brand for themselves — this realisation has created a brigade of small contract manufacturers who are making India’s place prominent in the global electronics manufacturing services map.

“Paytm par 100 rupay prapt hue (Paytm has received Rs 100)” — you’d have come across QR code machines belting out such messages when you make an online payment to a vendor. These “soundboxes” are a boon to kirana storekeepers, as they do not have to pause their work to get payment confirmations.Noida-based firm Real Internet of Things Labz, which has been manufacturing these machines for Paytm since 2022, has sold over 2 crore soundboxes. RIoT
BY
ET Online
13 mins read, Last Updated:
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