Local Production Boosts Top Electronics Firms as Imports Drop
For the first time, top electronics companies in India have witnessed a decline in imports, driven by the increasing adoption of local manufacturing under the government’s ‘Make in India’ initiative.
Leading brands, including Samsung, Xiaomi, and Apple, are reducing their dependency on imports, sourcing more components and assembling devices within the country. Industry experts view this as a significant milestone in India’s journey to becoming a global electronics manufacturing hub.
Local Manufacturing on the Rise
Electronics imports dipped by 8% in the first half of the fiscal year compared to the same period last year, according to industry data. Companies are ramping up investments in domestic production facilities to take advantage of government incentives such as the Production Linked Incentive (PLI) scheme.
The PLI scheme, aimed at boosting local manufacturing, has attracted significant investment, leading to increased production capacity for smartphones, laptops, and other electronic goods. This has not only created employment opportunities but has also reduced India’s trade deficit.
A Shift in Industry Dynamics
Market analysts suggest that the shift towards local manufacturing will reduce costs, enhance supply chain efficiency, and make Indian-made electronics more competitive in the global market. This trend also aligns with India’s goal to become self-reliant in key sectors while fostering innovation and sustainability.
The ‘Make in India’ initiative has not only reshaped the electronics industry but also laid a foundation for India to emerge as a leading global player in technology manufacturing.
