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Electronics Manufacturing
Electronics manufacturing in the country is expected to cross Rs 1.28 lakh crore in the next financial year, Minister of State for Electronics and IT Rajeev Chandrasekhar has said. The minister, in an interview with PTI, said the government is now going to broaden and widen the electronics manufacturing ecosystem with a new production-linked incentive scheme for hearable-wearable, IT hardware and component makers. "Electronics manufacturing as a whole, we see next year that we will at least do Rs 1.28 lakh crore. I have already said that we will see mobile phone production reaching Rs 1 lakh crore in 2023-24," Chandrasekhar said. There has been a focus on mobile phones because it is the fastest-growing segment in electronics across the world, he added. "Value addition in manufacturing is a function of scale. First, you need to hit the scale. The component industry is the one which does value addition. Components will not come if the scale of manufacturing is not there. The next sta
Ceiling fans would get costlier by 8 to 20 per cent as the category comes under the ambit of mandatory star labelling from January 1, as per the revised Bureau of Energy Efficiency (BEE) norms. Star labelling denotes energy savings of minimum 30 per cent for 1-star rated fans to over 50 per cent for 5-star rated fans. Though leading manufacturers such as Havells, Orient Electric and Usha International have welcomed the move, they also believe it would lead to cost increase of 5 to 20 per cent as high energy efficient 5-star rated fans will require new imported motors and electronic components. Under the new mandate, now manufacturers would have to display star ratings between 1 to 5 stars on their fans. The star rating is dependent on service value (air delivery in cubic meters per minute divided by energy consumption in wattage). Terming it a "massive shift", Orient Electric MD & CEO Rakesh Khanna said, now consumers will get access to a superior product that consumes far less ...
Electronics manufacturing company Elista India expects a revenue of Rs 1,500 crore by 2025 on the back of increased exports to the CIS countries, Middle East and Africa, a top official of the company said on Monday. The company plans an investment of Rs 350-400 crore in three years to meet its revenue guidance for 2025, the official said. Revenues of the company have increased to Rs 158 crore in just two years of operations of the company and it expects a business of Rs 200 crore this fiscal. "We expect Elista to have turnover of Rs 1,500 crore by 2025 out of which Rs 500 crore will come from the domestic market and Rs 1,000 crore from exports to CIS countries, Middle East and Africa," Elista and TeknoDome, Chairman and Managing Director, Saket Gaurav told PTI. He said that the company will initially focus on manufacturing televisions and later expand facilities for making washing, IT peripherals etc. Elista is also waiting for the allocation of land to start its manufacturing ...
Wearable and audio devices maker Fire-Boltt expects around five times growth in business to Rs 2,400 crore this fiscal with its plans to enhance brand loyalty of customers and offer specialised features for sports, fitness and healthcare, a top official of the company said. Fire-Boltt Founder and CEO Arnav Kishore told PTI that the company will start making all smartwatches in India in the next three months and expects to increase its market share in the category to 50 per cent in the next 12-18 months. The company is eyeing the smartphone user base in India, projected to reach 100 crore in a few years, from where it expects high level of traction for smartwatches. "We are aggressively focusing on the marketing campaigns in order to increase brand loyalty. In terms of revenue, we clocked around Rs 500 crore last fiscal year. Till September 2022, we have clocked around Rs 1,200 crore and expect close to Rs 2,400 crore (this fiscal)," Kishore told PTI. According to Counterpoint ...