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News: According to Economic survey 2023, the Indian electronics industry was valued at US$118 billion as of FY20. India aims to reach US$300 billion worth of electronics manufacturing and US$ 120 billion in exports by FY26. The major drivers of growth of electronics industry are mobile phones, consumer electronics, and industrial electronics. India has become the second-largest mobile phone manufacturer globally, with the production of handsets going up from 6 crore units in FY15 to 31 crore units in FY22.
Views: The growing Indian electronics industry along with rising exports is likely to aid the production scale of EMS companies. With India becoming the second-largest mobile phone manufacturer globally, exports of mobile phones from India are likely to increase parallelly. Among domestic electronic manufacturers, we believe that Dixon Technologies (key beneficiary of mobile PLI) and Amber Enterprises are likely to benefit from the growing thrust in electronics manufacturing and exports