Page 3 - Electronics Industry

IT Ministry seeks Cabinet nod for Rs 40,000 cr electronics package in Dec

The financial package would include subsidies for capital expenditure and production-linked incentives to encourage job creation and develop an ecosystem for electronic component manufacturing

India's tablet, PC market grows 46% in Jul-Sep, iPad leads with 34% share

India's tablet PC market grew 46 per cent annually in the July-September quarter of this year and Apple's iPad led the segment with 34 per cent share, market research firm CyberMedia Research (CMR) said on Wednesday. According to the report, tablets in the price range of Rs 20,000-30,000 saw a significant 108 per cent YoY increase, highlighting a shift towards premium devices. "Tablet PC India Market Report Review for the third quarter of 2024: the Indian tablet market experienced a remarkable 46 per cent Year-on-Year (YoY) growth, and an impressive 79 per cent Quarter-on-Quarter (QoQ) growth in the third quarter of 2024. This surge is primarily driven by the rapid adoption of 5G tablets and a wave of premiumization in the market," the report said. Apple led the Indian tablet market with a commanding 34 per cent share and a robust 95 per cent year-over-year (YoY) growth. "The new Apple iPad 10 Series contributed to 60 per cent of Apple's shipments, underpinning Apple's strong momen

LG Electronics India posts 7% revenue growth, 12% rise in profit for 2024

In its segment-wise revenue, LG reported Rs 5,672 cr from the home entertainment division, under which it sells televisions, audio systems, DVDs, monitors, and security cameras, among other products

Computer, electronics sectors add highest workers after Covid: ASI data

Only industry groups with more than 1,000 operating factories have been taken into consideration

France's Thomson enters Indian audio market with launch of TV soundbars

French consumer electronics brand Thomson, through its brand licensee Super Plastronics Pvt Ltd (SPPL), on Thursday announced its foray into the Indian audio market with the launch of soundbars here. Thomson, which is already present here in the TV and other appliances segments, also has plans to expand its play into the audio segment by launching more products in the soundbar and entering into the larger speaker and party speakers segment, SPPL CEO Avneet Singh Marwah said. As part of SPPL, it has invested Rs 50 crore to set up a new manufacturing unit at its existing Noida plant, which will produce half a million units in a year, he added. "We are aiming to have a 10 per cent market share of the audio segment in the online channels," Marwah said. According to Marwah, the Indian audio market is experiencing rapid growth. Sales of products such as soundbars have increased after a rise in sales of 4K smart TVs and the growing consumption of OTT content. "Now 85 per cent of customer

Electronics sector to discuss tariff, reforms with PMO, finance ministry

The electronics manufacturing sector will hold meetings with the Prime Minister's Office (PMO) and the Ministry of Finance to discuss '$500 billion by 2030' goal

Corning bullish on mobile, life sciences; commits Rs 1,500 crore investment

High-tech glass company Corning is bullish on growth from mobile consumer electronics and life sciences businesses in India, a senior company official said on Thursday. The automotive and optical fibre business is the biggest revenue contributor to the company in the country, at present. Corning which started business by providing glass cover for bulb invented by Thomas Alva Edison has expanded into several verticals to provide glass technology ranging from electronics display protection cover for mobile, television displays, semiconductor manufacturing, space telescopes to glass based packaging for labs, vaccines etc. "We waited for ecosystem to be established in India where we are seeing now global players are already establishing footprints to manufacture smartphones, and we just want to be a part of the supply chain. India is now becoming a rising star. We want to just be part of the story," Corning International, division vice president and general manager Gokhan Doran told ...

Electronics exports among top 3: PM Modi credits 'Yuva Shakti' for feat

PM Modi reposted Ashwini Vaishnaw's post on X citing Business Standard's front page story in Monday's edition, which reported that electronics exports were among top 3 categories in India

Electronics industry needs to share production data: Meity official

The government has access to import and export data but wants the electronics industry to share production statistics for policy formulation, a Meity official said on Friday. The government has been sharing electronics production data in the country based on estimates of industry bodies, especially the India Electronics and Cellular Association. "We don't have any kinds of production data. That's very important. When we formulate policy, we need to know how much we are producing and what we are producing. So that we actually know the exact figure. We have DGIS, where we can get import data and export data. Industry has to support the government by sharing the data," Meity Scientists G and Group Coordinator Asha Nangia said. She was speaking at an event organised by CII in collaboration with ICEA on Building a Resilient Supply Chain for Electronics and Semiconductor Industry. According to ICEA, mobile phone production has increased around 18.5 times from Rs 18,900 crore in 2014-15 t

Budget 2024: MeitY's budget outlay jumps 52% to Rs 21,936 crore for FY25

MeitY runs multiple incentive schemes and programmes in areas such as semiconductor manufacturing and design, electronics manufacturing, and the India AI Mission, among others

Samsung in talks with component partners to boost operations in India

Samsung views India as a crucial market with Noida and Bengaluru becoming one of its biggest R&D centres, and is in talks with Indian component partners to strengthen its operations, a senior official said. Samsung Electronics President and Head of Mobile eXperience (MX) Business TM Roh was speaking at a media roundtable here on the sidelines of Samsung Unpacked 2024. "The Indian market is very important to Samsung. We have operated the manufacturing facility since 1996, and we also have R&D centres in India. Noida and Bengaluru R&D centres have become one of the biggest R&D centres of Samsung and MX business. "They are busy developing flagship products as well as contributing to the development of Galaxy AI technologies," Roh said, adding that these collaborations and efforts will continue in the future. In January this year, Roh termed India as one of Samsung's important manufacturing bases and said that the Korean electronics major will start manufacturing laptops ..

To boost electronics production, ICEA demands lower input tariffs in Budget

Ahead of the Union Budget, India Cellular & Electronics Association (ICEA) has recommended reduction in input tariffs for building a strong components ecosystem. ICEA based its recommendations on a "tariff study" it conducted across seven competing economies, including India. "...high tariffs on inputs limit the very engine of growth that would lead to higher production. High tariffs on inputs reduce exports because they become uncompetitive, leading to lower production of the final product, i.e., mobile phones. Addressing this requires a reduction in tariffs on inputs. "We recognise that developing the domestic supply chain is extremely critical but the right way is not by protecting with high tariff but drastically reducing disabilities by creating competitiveness and infuse incentive schemes wherever there are gaps," the report, which was released on Tuesday, said. To attract global value chains (GVCs) and increase the scale of production, ICEA said all tariff lines that ...

Budget wish list: Component PLI top demand of electronics companies

Manufacturers aim at attracting global value chains, scaling up production

CII says reducing dependence on China 'critical' for electronics industry

It recommended the government to come up with revised electronic components production-linked incentive schemes with higher incentives in the range of 35-40 per cent to reduce dependence on imports

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%