The Indian electronics manufacturing industry is booming, with domestic production exceeding $101 billion in FY23. This growth is driven by a growing domestic market, government initiatives, and a skilled workforce. Key segments in the industry include mobile phones (43%), IT hardware (5%), consumer electronics (12%), strategic electronics (5%), industrial electronics (12%), auto electronics (8%), LED lighting (3%), and electronic components (11%).
The EMS industry in India caters to various sectors such as consumer electronics, computers and IT hardware, telecommunications, industrial electronics, automotive electronics, medical devices, and aerospace and defense. Different types of EMS companies include full-service EMS that provide a range of services from design to logistics, design-focused EMS offering design and manufacturing expertise, manufacturing-focused EMS specializing in high-volume production, and aftermarket services EMS focusing on repair and maintenance.
Business models in the EMS industry include OEM, where the brand designs the product and the EMS company manufactures it, and ODM, where the EMS company designs and manufactures the product. Despite challenges like competing with established players like China and developing a local component ecosystem, India leverages government support through initiatives like PLI schemes and the Atmanirbhar Bharat mission.
India's strategic location, skilled workforce, and growing domestic market position it as a key player in the global EMS landscape. Investors should focus on high-growth segments and companies committed to innovation and local component development to capitalize on the opportunities in this rising industry.
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22 авг 2024
