India's global market journey in the electronics space has just begun, according to Sunil Vachani, chairman, Dixon Technologies. "We have come a very long way, as an industry and country. If you look 20 years back, we were importing all the phones that were sold in the country. But today, almost all the phones that are sold in our country is 'Made in India," he said.
Vachani highlighted that India aims to become the manufacturing hub. "I am very confident that we can be the best in the world, but I think we need to be patient and give us some time," he told NDTV Profit.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
"We have started this journey in last 10-12 years, hence there is no doubt that there is a lot of catching up to do," he said, on whether India can compete with China at some point. "But, we need to see the positive signs."
Global Electronic Trade
Vachani noted that the global electronics market is about $3 trillion and India has roughly 3% of this market. "So, this journey has just begun for India. All of us have to come together -- the industry and the industry associations". The goal should be to ensure that the target of $500 billion turnover, set by Prime Minister Narendra Modi, "comes true", he added.
"I am extremely positive that we are on the right track," he said. "The numbers are definitely achievable."
The global smartphone and electronic ecosystems are based on global value chains, noted Pankaj Mohindroo, Chairman, ICEA. "What we are achieving is a very big scale, we have crossed $60 billion now in smart assembly. Some of the smart phone sub-assemblies are also being manufactured here," he shared.
"The scale has lifted the industry up, and it is also giving motivation to the other industries that this is possible," Mohindroo said.
Vachani further highlighted that, "We need to work on component ecosystem, design ecosystem...The whole focus now has to be on exports."
On mobile industry, he said that, "Right now, the value addition is roughly around 20%, while our neighboring country is about 40-45%."
PLI Scheme
PLI scheme has generated employment in this sector, created large scale, created "Indian champions who will become global champion in times to come," he said.
"The scheme has done exceedingly well, but I think a lot work still needs to be done. As India still needs to emerge as the largest manufacturing hub for the world. There are a few disabilities like logistics cost," he highlighted.
Vachani noted that the new PLI scheme for components along with the PLI scheme for mobile phones, "will really help India" achieve its electronic manufacturing goals in the next few years.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.