The list for the “Made in India” Local Manufacturing in Q3 2022 has reportedly been published by Counterpoints. With about 33.6% of total shipments in the electronic wearables category produced locally, the TWS segment leads the industry, which is manufactured by BharatFih, Padget, and MIVI. Nearly 13.1% of the Neckband segment’s exports are produced locally, with VVDN, MIVI, and Optiemus leading the pack. Optiemus is the market leader in the local manufacturing of smartwatches, which account for over 16.6% of total shipments. With over 31.5% of total shipments made in India, the tablet market is dominated by Indian manufacturers headed by Samsung, Dixon, and Wingtech. TV, which is produced by Dixon, Radiant, and Bhagwati is the electronic product category that is completely and most domestically produced in India.
Anshika Jain, a senior research analyst, stated the government’s goal is to increase local production and even move beyond smartphones to encompass areas like audio goods, wearables, and EVs. Now the government has even started focusing on the manufacturing of semiconductors. Along with this, she added this is being done to make the nation a prominent player in the global value chain, and for this more and more efforts are being made.
