India's own Foxconn? Dixon's PLI-powered road map may reshape electronics

Dixon is transitioning from being predominantly domestic assembler - smartphone assembly accounted for 89 per cent of its revenue as of Q3 FY25 - to becoming a deeper player in electronics value chain

Dixon Technologies has earned a rare distinction: it is the only Indian company ranked among the top 20 global electronic manufacturing services (EMS) players by revenue in 2024, according to research agency Manufacturing Market Insider. In a league dominated by heavyweights like Foxconn, Pegatron, and Luxshare, Dixon’s presence is a significant achievement for a homegrown brand.

 

Still, the scale difference is stark. Dixon’s 2024-25 (FY25) revenues, at ₹38,860 crore, are just a quarter of

Foxconn’s revenues from India alone (₹1.72 trillion), thanks largely to Apple Inc, which remains the dominant force in the Indian EMS landscape.

 

Yet, Dixon has set its