Page 2 - Electronics Industry

Electronics firms seek Rs 35,000 crore PLI support to boost manufacturing

ICEA said the scheme would increase domestic value addition, especially in mobile phone manufacturing, from the current 18 per cent to 35-40 per cent, to support the growing demand

Veira to invest Rs 450 cr on new unit to increase production capacity

Consumer electronics and appliances maker Veira on Monday said it will invest Rs 450 crore to set up a new manufacturing unit at Greater Noida to enhance capacity for air coolers and washing machines. This investment will result in increasing existing production capacity from 1 lakh to 5 lakh units of washing machines and air coolers annually, Veira said in a statement. "This expansion marks our commitment to serving both domestic and international markets," Veira Director Ankit Maini said, adding that the company anticipates these product segments to contribute 15 per cent to its revenue by the end of FY25. The company, a contract manufacturer, said it already manufactures air coolers for 23 Indian and global brands. Similarly, it manufactures washing machines for 25 such brands. At present, the company said it has two facilities at Noida's Sector 81 and 85, covering a combined area of 5 lakh square feet.

PLI for electronics parts: Meity seeks info on production competitiveness

Meity has held numerous consultations with industry players and is hoping to launch the scheme as part of its 100-day agenda after the new government is formed after the general elections

In electronics exports, Tamil Nadu jumps to top on Apple's India push

This accounts for around 33 per cent of the total exports of the country, surpassing a $9 billion target set by the state a few months ago

Electronics industry sees 154% growth in hiring and skilling: Quess report

The telecom domain tops hiring demand within the electronics industry, accounting for 64 per cent of hiring, followed by lighting and automotive sectors

Tata Electronics ups hiring in Hosur iPhone hub; to add around 35,000 more

Taiwanese major, Foxconn, is the largest manufacturer of iPhones in India, contributing to around 67%

Commercial AC market has significant growth potential, says CEAMA president

Commercial air-conditioning (AC) market holds "significant promise" and is witnessing growth, driven by rapid urbanisation, infrastructural development and growing emphasis on comfort in commercial spaces, said Sunil Vachani, president of electronics and appliances manufacturers' body CEAMA. The commercialC (Heating, Ventilation, and Air Conditioning) segment is witnessing a shift with its wide array of applications, with infrastructure growth including offices, retail spaces, healthcare facilities, hospitality establishments, and educational institutions, said the president of Consumer Electronics and Appliances Manufacturers Association (CEAMA). Moreover, factors such as increasing awareness of indoor air quality, sustainability mandates, and the integration of IoT (internet of things) and building automation systems are also reshaping the commercialC landscape, offering avenues for innovation and market expansion, he said. "In terms of growth potential, the commercialC segment ..

Mr Techie goes to the polls

Chandrasekhar paid the price for being an early mover in a business that was at best perilous. The business had to be sold for an undisclosed sum

Electronics manufacturing will need over 4 mn people: Civil servant

Semiconductors emerging as 'big sector' in country as more investments come in, he says

Foxconn invites bids for construction of chip assembly plant in India

Taiwanese electronics major Foxconn has invited bids for construction of a chip assembly and testing plant in India. The plant is proposed to be set up in partnership with HCL Group, according to a regulatory filing. The company has earmarked Rs 1,200 crore as an initial investment for the project. In the filing, Foxconn said it is making an announcement on behalf of subsidiary Foxconn Hon Hai Technology India Mega Development Pvt Ltd for engaging others to build the plant on owned land. Last month, Foxconn Hon Hai Technology India Mega Development Pvt Ltd had allocated USD 37.2 million or about Rs 308 crore for setting up the joint venture.

Panasonic Electric eyes 50% share in India's wiring devices mkt by 2030

Panasonic Electric Works India (PEWIN) -- a subsidiary of Panasonic Life Solutions -- aims to capture 50 per cent market share of India's wiring devices market by 2030, a top company official said. "Over the next five years, our focus in India will be on significantly expanding our market share," Toshinobu Kawasaki, Joint Managing Director, Panasonic Electric Works India, told PTI. "Specifically, by 2030, we aim to capture a 50 per cent market share in the wiring device business," he said. "We are also targeting substantial growth in our core business areas, such as switchgear and lighting. This ambitious plan reflects our commitment to strengthening our position in the market and continuing to deliver quality and innovation in these key segments," Kawasaki said. Wiring devices include products such as switches, plugs, lighting control devices, time switches, and provide connection points for outlets, lighting, and appliances to save energy and manage power. Asked if the company i

Foxconn arm in India set to lose country head Foulger as it eyes expansion

Bharat FIH has postponed plans to list on Indian stock exchanges, and has yet to make significant headway on its ambition to start manufacturing electric two-wheelers

Panasonic eyes double-digit growth in FY25, sees India as export hub

Panasonic expects a "double-digit" growth in the Indian market this fiscal while the company prepares to tap the long-term potential of the country by bringing high-tech products, besides making it an export hub. India is among three important regions for firm headquartered in Osaka, Japan, and it is in the process of building and bringing many more products and high-tech solutions which did not exist in the past in this country, said Chairman of Panasonic Life Solutions India and South Asia Manish Sharma. Panasonic Corporation is "heavily committed" to the Indian market as its "long-term potential is very high" because of a lower penetration of products in the country, providing enough space to grow, he said. The company is working on India-specific innovations for its business verticals such as consumer appliances, electric boxes (wire and wiring devise), supply chain where it provides smart factory solutions, industrial devices and energy business in which it is offering ...

Tamil Nadu's electronics export on road to $8 billion, says minister

According to industry experts, major reasons for the rise in exports is the 'China Plus One' strategy of global majors like Apple

Whirlpool plans to sell 24% ownership in India business to reduce debt

Whirlpool of India reported a 23.7% drop in second-quarter profit earlier this month, as the home appliances maker grappled with weak demand amid stiff competition

99% of mobiles used in India are made in India, says Ashwini Vaishnaw

'Have moved up value chain in electronics manufacturing'

NeST Group's SFO Technologies expected to go public in next 2 yrs: Official

Kochi-based SFO Technologies, the flagship company of the NeST Group, is all set to go public in the next two years' time, the company said on Friday. SFO Technologies, which is one among the largest exporters of electronics hardware in the country, is planning to take the IPO route for major expansion projects, it said. Chairman and Managing Director of NeST N Jehangir said the group has busted the myth that Kerala is not industry friendly. "NeST group, over years, has broken the myth that the state is not industry friendly," he said, adding that in the past 30 years they have not faced any labour issues. In a release issued by the NeST, Jehangir said they employ 35-40 per cent women staff in their plants and development centres in Kerala to encourage women empowerment and gender equality. "Women excel in every facet of operations and management, including mission critical assignments. With over 60-plus Original Equipment Manufacturers (OEM) customers and exporting to 56 countrie

Daewoo enters Indian consumer electronics market via Kelwon Electronics

South Korean brand Daewoo has entered into fast-growing Indian consumer electronics and appliances market through its licensee partner Kelwon Electronics & Appliances, which has plans to invest around Rs 300 crore in the next three years. Kelwon, which sells products, including Lithium Hybrid Inverters and LED TVs, will introduce products in sectors such as energy and power, and consumer electronics, under brand Daewoo - now owned by South Korean conglomerate POSCO DAEWOO. As per its marketing strategy, Kelwon would adopt a twin brand strategy, where it will place the products under Daewoo in the premium and mid-premium segment, while mass to mid-premium would be catered through its own brand, its Managing Director H S Bhatia said. Kelwon will initially get the Daewoo products manufactured locally here through OEM (Original Equipment Manufacturer), under the R&D and technical support from the South Korean brand. However, when the volume picks up substantially in the coming ...

HP to make Chromebook laptops in India in win for PM Modi's tech push

India has been expanding its electronics manufacturing sector as companies diversify production beyond China amid growing Washington-Beijing tensions

Electronics industry body seeks PLI scheme for non-semicondcutor sectors

Electronics industry body ELCINA has requested the government to come up with a production linked incentive scheme for non-semiconductor or computer chips sector which is dominated by imports, a senior official of the organisation said. According to Electronic Industries Association of India (ELCINA) report, total electronic component market in the country was estimated to be around USD 39 billion, of which 68 per cent requirement was met through imports in 2021-22. While speaking at 48th ELCINA Award Ceremony, organisation's new President Atul B Lall said that the government's scheme for devices has been hugely successful and the incentive scheme for semiconductor sector is seeing a lot of traction and some investments have started flowing in. "Our humble submission and perseverance is going to be to do the same for non-semiconductor component sector also. For which we request government's intervention," said Lall, who is Vice Chairman & Managing Director of Dixon ...