ELECTRONICS COMPONENTS MANUFACTURING
Digitalisation will drive the next growth wave for MSMEs: MeitY Secretary
S Krishnan, Secretary of MeitY, says digitalisation is essential for MSMEs’ growth. Therefore, collaboration between MeitY and MSMEs is the need of the hour to spur the segment’s growth using digitalisation.
Lava to decouple production arm to boost PLI targets and attract new business
Lava International plans to separate its production arm to attract business from other handset brands and meet the production-linked incentive (PLI) scheme targets for smartphones. Despite struggling to meet PLI targets since the scheme's inception in 2020-21, Lava remains hopeful due to the upcoming component production incentive package. Sanjeev Agarwal, head of manufacturing, noted that increasing production by Rs 500 crore annually is crucial. He attributed the difficulties to starting with a higher base and rival brands' reluctance to partner with manufacturers with their own brand.
India needs to work on infra, ecosystem to be a semicon hub: Dy mayor of New Taipei City
Deputy Mayor Chu Tih Ju, at Taiwan Expo 2024, urged India to enhance infrastructure and connectivity to boost its manufacturing ecosystem. Taiwan, a major semiconductor and electronics producer, saw $8.2 billion bilateral trade with India last year. TAITRA Chairman Huang noted 28% trade growth in 2024, emphasizing the adherence to local laws.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
VCs chase auto parts makers to hitch a ride on EV journey
Smaller component makers for electric vehicles (EVs), many of which started with other businesses before pivoting to their current business mainstays, are increasingly attracting interest from venture capital firms amid a boom in EV sales. The boom in EV sales, as demonstrated in the sales of passenger EVs jumping 91% and of commercial EVs tripling year-on-year (YoY) in FY24, has meant that the demand for parts has also soared.
Prosus writes off Byju's stake; Swiggy, PayU India report card
Dutch investment major Prosus said its investment in Byju’s is worth zero. This and more in today’s ETtech Top 5.
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CII calls for review of trade ties with China
The CII called for a review of trade ties with China due to the country's reliance on electronics components imports, posing a risk to domestic manufacturing sustainability.
India's electronics components demand projected to reach $240 billion by 2030
A new report by the Confederation of Indian Industry predicts the demand for electronics components and sub-assemblies in India to reach $240 billion by 2030, supporting a $500 billion electronics production. Priority components like PCBAs are expected to grow at a 30% rate.
India's electronic manufacturing may reach USD 500 bn by 2030: CII report
India needs to take critical actions to transform its electronic sector ecosystem from an 'import dependent assembly led manufacturing' to 'component level value-added manufacturing', highlights a report by Confederation of Indian Industry.
India's electronic manufacturing likely to double in the next five years: Govt sources
India's electronic manufacturing is likely to double in the next five years, according to sources in the Ministry of Electronics and Information Technology. The country's electronic manufacturing is likely to reach around USD 250 billion in the next 5 years, said a source in the ministry.
Industry executives a worried lot: Why India-China tensions are equal to a big headache for electronics makers
Indian electronics manufacturers have suffered $15 billion in production losses and 100,000 job cuts due to escalating tensions with China. Visa delays for Chinese executives are hindering the industry's expansion plans, leading to a $10 billion export opportunity loss and $2 billion in value addition loss. Government probes into Chinese companies operating in India have further impacted the sector.
Dixon Technologies to invest Rs 1,500-1,800 cr in India over next three years
The poster boy of Indian contract manufacturing will generate the funds from internal accruals based on cash flow. Lall said this year itself, the company will invest over Rs 500 crore and will not shy away from raising funds for any big ticket acquisitions. Dixon is also looking to venture into the electric vehicle space with manufacturing of components like electronics modules.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
DRI clarifies 10% import duty on component imports, huge relief to industry
The Department of Revenue Intelligence (DRI) has clarified that components attached to the display assembly of mobile phones will attract a combined import duty of 10%, resolving a long-standing ambiguity. This decision affects parts like SIM sockets, side keys, and antennas when included in display assembly kits. This clarification, supported by the Ministry of Electronics and IT and the Prime Minister’s Office, aims to reduce litigation and confusion among manufacturers, customs officers, and the industry since the 2020 imposition of a 10% duty. The move is expected to aid the growth of the mobile phone manufacturing sector in India.
AC sales may touch new record of 14 million units annual sales in 2024: CEAMA
The blistering heatwave has driven record demand for room air-conditioners, with expected annual sales of around 14 million units, says the Consumer Electronics and Appliances Manufacturers Association (CEAMA). May saw record-breaking AC sales, with projections of 30-40% growth in summer. Energy-efficient models and indigenous manufacturing contribute to the market's robust expansion.
Aimtron Electronics stock lists at 50% premium on NSE SME platform
Aimtron Electronics debuted on the NSE SME platform with a 49.7% premium through a successful IPO. The company provides tailored solutions for electronic system design and manufacturing services globally.
Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing
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.
That AC or fridge you were planning to buy just got more expensive
Consumers in Kolkata will experience 2-5% price hikes on electrical goods due to factors like high inflation rates in copper and aluminium, freight cost increases, Red Sea crisis, and rupee depreciation.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
Ambrane to invest Rs 100 crore to increase localisation from 70 to 100%
Consumer electronics company Ambrane is determined to create 100% made in India products and is targeting Bharat and the global market.
Electronics companies seek Rs 35,000-crore incentive plan for components
"The incentive scheme is needed to support growing demand for electronics components to the tune of $75-$80 billion by 2026, and $300 billion by 2032 to support $300 billion worth of electronics products manufacturing by 2026 and $1.2 trillion by 2032," the India Cellular & Electronics Association (ICEA), which represents top smartphone brands and manufacturing companies, said.
India’s electronic manufacturing service industry is humming — now to stick to the flight path
India's competitiveness will depend on continuing reforms, de-bureaucratisation, contract enforcement, effective dispute resolution mechanisms, last-mile facilitation, building of sectoral ecosystems, and governance law and order stability.
Need two more PLIs for wearables and components: MAIT
MAIT, which represents major electronics companies such as Dixon Technologies, Dell, HP, Google amongst others, said the industry would review existing PLI schemes over the next two months to examine how they have fared vs policy objectives.
EV components maker Matel raises $4 million in funding
Matel makes components like power trains and motor control units for EVs. This funding round saw participation from investors like Nikhil Kamath-backed Gruhas and from Haresh Abichandani, the founder of electronic components firm Millenium Semiconductor.
Vedanta: How an old-age biz is trying to deliver a new-age baby
The complete acquisition of AvanStrate positions Vedanta in the display panel market, with plans to build its own display glass plant in Gujarat. The company is also eyeing partnerships for a potential chip plant. Vedanta's foray into electronics manufacturing, spearheaded by Agarwal's son-in-law Akarsh K. Hebbar, aligns with its core business of metals and mining.
Chipping in: N Chandrasekaran to chair Tata Electronics
Chandrasekaran will take over from Banmali Agrawala who has held the post for the last few years. Chandrasekaran who is already chairman of many key Tata group companies will take charge after requisite regulatory approvals. Agrawala, a key Tata Sons aide, has taken on an advisory role recently in the group.
Companies shopping for workers floored by women
"There is a preference to hire women on assembly lines," said Lohit Bhatia, president of workforce management at leading staffing company Quess Corp. "Many automobile, EV and component makers as well as electronics and mobile manufacturers want to specifically hire women in roles that require precision work." Maruti Suzuki, MG Motor and Lumax among others are hiring an increasing number of female apprentices on the shop floor.
Electronics parts PLI: Centre, companies get on call with ₹20,000 crore outlay on the agenda
As per MeitY, building an electronics components and semiconductor ecosystem is at the heart of electronics manufacturing and is a naturally extended outcome towards producing the finished electronics products. "An electronic device consists of a high density of components and the manufacturing of these components holds immense job and value addition potential," Meity said, while seeking inputs from the industry.
Government looking at component-linked incentive scheme for electronic manufacturing
Secretary of MeitY makes this announcement at the launch of the country's first designed-in-India education tablet with BharatGPT virtual assistant.
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