In the vast landscape of India’s economic boom, the electronics industry has emerged as a significant player. This sector is brimming with innovation and talent, creating waves not just domestically but also on the global stage. Amongst this bustling scene, there’s a select group of companies that have managed to rise above the rest.
India’s top 10 electronics manufacturing companies are making their mark through cutting-edge technology, efficient production methods and strategic business models. These pioneers are driving India forward in its digital journey while contributing greatly to its GDP.
Whether it’s consumer electronics or industrial applications; these companies are pushing boundaries with their avant-garde products and solutions. They’re your key to understanding the current state and future potential of India’s electronic manufacturing sector, so let’s dive right in!
India’s electronics industry is not only limited to manufacturing but also extends to other sectors such as shipping, water treatment, and consumer durables, reflecting the diverse industrial landscape of the country.
Electronics Manufacturing Industry in India
- The electronics hardware manufacturing industry in India was projected to produce electronic goods worth USD 104 billion by 2020 from USD 32.46 billion in 2013–14. The growth in the electronics sector is paralleled by advancements in related industries such as electric vehicle manufacturing and telecom cable manufacturing, further strengthening India’s industrial capabilities.
- As of FY20, the domestic electronics industry in India was valued at $118 billion, with a target to reach $300 billion worth of electronics manufacturing by FY26.
- In FY23 (April-November), electronics exports grew by 13.8%, the highest in the last six years, with a goal to achieve $120 billion of electronics exports by FY26.
- The electronics market in India is currently valued at $140 billion, with domestic production accounting for 62% .
- India’s domestic production is expected to reach $300 billion by FY26, with a CAGR of 15% from $43 billion in FY17 to $87 billion in FY22.
- India’s market share in the global electronics manufacturing industry increased to 3.6% in 2020 from 1.3% in 2012.
- The electronics sector of India contributes around 3.4% of the country’s Gross Domestic Product (GDP) .
- The government has committed nearly US$ 17 billion over the next six years across four PLI Schemes: Semiconductor and Design, Smartphones, IT Hardware and Components.
- The major products expected to drive growth in India’s electronics manufacturing are mobile phones, IT hardware (laptops, tablets), consumer electronics (TV and audio), industrial electronics, auto electronics, electronic components, LED lighting, and strategic electronics.
- However, some industry insiders suggest that India’s goal of achieving $300 billion in electronics manufacturing production by 2025-2026 is likely to remain unmet, with estimates suggesting that the actual figure is expected to range between $58 and $69 billion.
Electronics Manufacturing Companies in India
- Bajaj Electricals Ltd.
- Siemens
- Samsung Electronics
- ABB
- Eaton
- Texas Instruments
- Emerson
- Broadcom
- Godrej
- Dixon Technologies (India) Limited
| Company | Revenue (in ₹ Crores) |
|---|---|
| Bajaj Electricals Ltd. | 5,328 |
| Siemens | 6,29,760 |
| Samsung Electronics | 85,324 |
| ABB India | 8,568 |
| Eaton | 173056 |
| Texas Instruments | 36,706 |
| Emerson | 1,54,274 |
| Broadcom | 2,72,155 |
| Godrej & Boyce | 14,796 |
| Dixon Technologies (India) Limited | 10,697 |
- Bajaj Electricals Ltd.
- Revenue (2022): INR 5,328.42 crores
- Siemens
- Revenue (2022): INR 6,29,760 crores
- Samsung Electronics
- Revenue (2022): INR 85,324.80 crores
- ABB India
- Revenue (2022): INR 8,568 crores
- Eaton
- Revenue (2022): $20.8 billion
- Texas Instruments
- Revenue (2022): INR 36,706.46 crores
- Emerson
- Revenue (2022): INR 1,54,274.26 crores
- Broadcom
- Revenue (2022): INR 2,72,155 crores
- Godrej
- Revenue (2022-23): INR 14,796 crores
- Dixon Technologies (India) Limited
- Revenue: INR 10,697.08 crores
1. Bajaj Electricals Ltd.
When you think of electronics manufacturing in India, it’s hard not to mention Bajaj Electricals Ltd. With a whopping revenue of INR 5,328.42 crores and nearly INR 502 crores profit after tax in the financial year 2021-22, they’ve certainly made their mark on the industry.
With between 1,001 to 5,000 employees on board across India, Bajaj Electricals’ business portfolio is quite diverse. It includes Consumer Products such as appliances, fans and cookware; Lighting for both consumers and professionals; and EPC services that cover power transmission and distribution.
Bajaj Electricals serves its clients through an extensive network of dealers, distributors and retail outlets spread throughout India. Its main headquarters can be found in Mumbai, Maharashtra.
In Q3FY23 alone the company reported strong revenue growth with consumer products revenues crossing INR 1,000 crores for the quarter. This isn’t surprising considering their commitment to innovation – having been recognised for innovation in packaging stadium lights.
The company won Frost & Sullivan’s ‘Quality Enterprise Leadership’ award within the Manufacturing Sector from Project Evaluation and Recognition Program (PERP) 2022. Not only that but Anuj Poddar – MD & CEO of Bajaj Electricals was awarded “Man of Small Appliances Award – 2022” by CEAMA.
The past has seen some notable movements too with September 2022 marking the Board approval for a Scheme of Merger by Absorption of Nirlep Appliances with Bajaj Electricals itself.
Last but definitely not least is Shekhar Baja – acting Chairman of Baja Electricals Limited who continues to steer this behemoth towards ever-growing success.
In addition to electronics, Bajaj’s growth can be attributed to its involvement in various sectors, including paper manufacturing and aquaculture products.
2. Siemens
Siemens, a globally recognised name in the field of electronics manufacturing, has carved out a significant market share for itself with its innovative products and solutions. This German multinational conglomerate generated an impressive revenue of €72.0 billion (approximately ₹6,29,760 crores) and a net income of €4.4 billion (roughly ₹38,504 crores) in fiscal 2022 alone.
The company stands tall on the shoulders of its approximately 311,000 employees worldwide who contribute to its diverse range of services and products.
| Key Figures | Amount |
|---|---|
| Revenue | €72.0 billion / ₹6,29,760 crores |
| Net Income | €4.4 billion / ₹38,504 crores |
| Employees | 311,000 worldwide |
With operations spread across Digital Industries, Smart Infrastructure, Mobility and Siemens Healthineers segments; the company serves customers from varied sectors including industry infrastructure transport and healthcare.
Siemens’ roots are firmly planted in Munich Germany but it’s presence is felt globally thanks to its several subsidiaries such as Siemens Healthineers and Siemens Financial Services among others.
The innovation-driven approach at Siemens also reflects through their substantial investment in research and development during fiscal 2022 aimed at creating cutting-edge solutions for their customers.
In fact Fast Company recognized them as one of the “Most Innovative Companies” in 2022 also ranking them No.1 among honorees based out Europe Middle East & Africa region.
Notable partnerships that showcase their commitment towards betterment include a $27.8 million partnership with Springfield Massachusetts aimed at improving indoor air quality within learning environments.
Founded way back in 1847 by Werner von Siemens; this company has played a pivotal role in shaping technological advancements over centuries while maintaining an unswerving dedication towards innovation which was acknowledged when they were named “World Changing Company of the Year” by Fast Company earlier this year.
3. Samsung Electronics
Samsung Electronics, a global powerhouse in the world of electronics manufacturing, has consistently shown impressive growth over the years. In 2022 alone, their revenue peaked at ₹85,324.80 crores – a testament to their solid market presence and consumer trust.
Their profit after tax wasn’t shabby either, standing tall at ₹3,844.40 crores for the same year. These figures are brought to life by an impressive workforce of over 270,320 employees scattered across the globe.
| Financial Year | Revenue (in crores) | Profit After Tax (in crores) |
|---|---|---|
| 2022 | ₹85,324 | ₹3,844 |
It’s Samsung’s diverse product portfolio that caters to consumers’ everyday needs:
- Televisions
- Refrigerators
- Washing machines
- Air conditioners
- Medical devices
- Printers … and many more
Whether you’re a retailer looking for high-quality electronics or a healthcare institution in need of state-of-the-art medical devices – you can bank on Samsung! Their key clients span various sectors such as hospitality, finance and education among others.
Samsung’s broad product range extends beyond electronics to include consumer goods like refrigerators, contributing to its status as a leading brand in multiple markets.
With its headquarters nestled in Samsung Town in Seoul, South Korea; Samsung Electronics has maintained its position as market leader for 15 consecutive years. As of 2020, they were ranked eighth globally in terms of brand value.
The company has been proactive about expansion too – acquiring several firms including Harman International and SmartThings amongst others. This strategic move bolsters their presence across different verticals while fostering innovation through partnerships.
Since being established back in 1969; they’ve made significant investments towards research and development which have propelled them to new heights within the global electronics industry. They’ve also set up multiple plants worldwide – from Portugal all the way to Texas!
In terms of market share; it’s their smartphone segment that stands out most with around 70% of total revenue originating here.
They’re not just about present achievements though; future developments are equally important for them with investments channelled towards artificial intelligence, next-gen telecommunication technologies like 5G & 6G and automotive electronics.
As part of their business structure: there are several subsidiaries under their belt along with some noteworthy acquisitions such as LoopPay and TeleWorld Solutions which further enhance their offering portfolio.
4. ABB
Heralding an impressive revenue of INR 8,568 crore for CY2022, the highest in half a decade, ABB India stands tall amongst its peers. This milestone is backed by a robust workforce of 105,100 employees marking a growth rate of 1.55% from the previous year.
ABB’s expansive portfolio spans across control systems, drives and motors, electric vehicle charging infrastructure to industrial analytics with AI and low voltage products and systems. The company’s global footprint extends all the way to Oerlikon on the outskirts of Zurich in Switzerland where it has its headquarters.
| Key Metrics | Numbers |
|---|---|
| Revenue (CY2022) | INR 8,568 Crore |
| Employees (2022) | 105,100 |
The year CY2022 was particularly fruitful for ABB India as it crossed another significant threshold in order booking reaching INR 10,028 crore.
Established as a pioneering technology company that provides digital solutions and enhances productivity through industry electrification and transport services; ABB operates under four major segments: Electrification, Robotics, Motion and Industrial Automation.
Innovation is at the heart of everything ABB does which is why it focuses heavily on research and development. The fruits of this focus can be seen in their awards programme – ‘ABB Research Award in Honor of Hubertus von Grünberg’, presented every three years to recognise exceptional postdoctoral research. In 2022 this prestigious award was bagged by Dr Utsav Banerjee for his ground-breaking work on integrated circuits and systems enhancing security for IoT devices.
Over time ABB has made noteworthy acquisitions fuelling their phenomenal growth; spending over $10.74 billion on acquiring companies like Eve (June 2023), In-Charge (January 2022), and ASTI Mobile Robotics (July 2021).
Prominent personalities are also associated with the brand including Stoffel Vandoorne – reigning Formula E World Champion who joined as an ambassador for Season 9 while Simona De Silvestro – another ambassador takes part in FIA Girls on Track initiative.
This dynamic confluence of innovation led technology offering diverse products & services combined with vibrant leadership makes ABB one-of-a-kind within the electronics manufacturing sector.
5. Eaton
Let’s turn our attention to Eaton, a global power management company that’s been operating for more than a century. Notably, they reported revenues of $20.8 billion in 2022 and an impressive operating profit for Q2 2023 at $669 million – a significant 35% rise over the second quarter of 2022.
In fact, their workforce comprised 92,000 employees in 2022, showing growth of nearly 7% from the previous year. Their team is spread across the globe with headquarters located in Dublin, Ireland and a secondary administrative centre nestled in Beachwood, Ohio.
It’s their diverse range of electronic components such as power magnetics, circuit protection devices and supercapacitors – serving customers across various sectors including computing, consumer goods, energy production and medical technologies.
In terms of achievements, it’s hard to overlook Eaton’s record quarterly results with an astounding backlog growth of 23% and a book-to-bill ratio standing at 1.2 in 2023. The company made waves at CES 2022 too where they showcased what electrification could look like for homes buildings and vehicles alike.
Investment into research & development is key for any tech giant — Eaton certainly doesn’t skimp on this aspect either! They shelled out $665 million on R&D expenses for the year ending 2022 which was almost an eight percent increase from the preceding year.
Amongst several recognitions, they’ve bagged the prestigious Communicator Award of Distinction (2022), Automotive News PACEpilot recognition (also in ’22) and CPDI ARC Award three years running.
But let’s not forget about strategic growth through acquisitions: One notable example being Tripp Lite – another major player within the power management arena – now under Eaton’s umbrella. Furthermore its Indian subsidiary ‘Eaton Fluid Power Limited’ recorded impressive revenue growth- up by nearly one-fourth during FY22.
Here are some key facts about Eaton:
| Key Facts | Details |
|---|---|
| Revenue (in billions) | $20.8 |
| Operating Profit Q2’23 (in millions) | $669 |
| Employee Count (’22) | 92k |
| R&D Expenses (’22)(in millions) | $665 |
| Headquarters Location(s) | Dublin,Ireland/Beachwood Ohio |
6. Texas Instruments
Diving into the financials, Texas Instruments reported an impressive revenue of $4.67 billion in 2022. With the average exchange rate sitting at 78.6048 INR per USD for that year, we’re looking at around ₹36,706.46 crores in INR. It’s also worth noting their net income – a cool $1.96 billion or roughly ₹15,404.09 crores.
Given these numbers, it’s not surprising that Texas Instruments is a serious player on the electronics manufacturing scene with a whopping 33,000 employees under its wing in 2022 alone.
When it comes to their products and services, they’ve got quite the portfolio on offer:
- Analog and embedded semiconductors design
- Manufacturing
- Testing
- Selling
These are targeted towards various markets such as industrial, automotive, personal electronics along with communications equipment and enterprise systems.
Texas Instruments’ client list is nothing short of impressive either; boasting over 100k customers across varied sectors including those mentioned above.
Their headquarters is nestled in Dallas at 12500 TI Blvd., Texas. Of course no company profile would be complete without mentioning achievements and Texas Instruments has plenty to shout about:
- Recognised as one of Barron’s Most Sustainable Companies four years running.
- Managed to reduce greenhouse gas (GHG) emissions by a quarter between 2015 and 2022.
- Diverted an incredible 90% of solid waste materials generated from landfills in just one year!
Their research doesn’t go unnoticed either; collaborating with select universities worldwide through their dedicated TI research-and-development labs really puts them on the map when it comes to innovation within the field.
The company was established back in 1930 (almost a century ago), this global semiconductor design and manufacturing company has come leaps and bounds since its inception.
And let’s not forget about their acquisitions: spending well over $15.13 billion acquiring companies like Burr-Brown & National Semiconductor alongside Amati gives you some idea of how they’ve grown over time.
Lastly we have Mayim Bialik – an actress known for her role on The Big Bang Theory who also happens to be both scientist AND author – serving as brand ambassador back in 2012.
7. Emerson
Diving into the world of electronics manufacturing, you’ll find Emerson standing tall as one of India’s top companies. This giant in the sector reported a staggering annual revenue of $19.629 billion in 2022, approximately ₹1,54,274.26 crores . Their gross profit wasn’t too shabby either, with a total sum of $8.188 billion (₹64,334.06 crores).
| Year | Revenue ($ billion) | Gross Profit ($ billion) |
|---|---|---|
| 2022 | 19.629 | 8.188 |
Operating on such a large scale isn’t an easy feat and requires a substantial workforce; for Emerson, this meant employing around 85,500 people in 2022.
What sets Emerson apart is their rich product portfolio which spans across automation solutions, actuators and integrated valve-operated systems tailored for industrial, commercial and consumer markets alike.
When it comes to their client base, diversity is the name of the game; from oil & gas to food & beverage industries – they’ve got them all covered! Based out of Ferguson Missouri U.S., they have made noteworthy strides globally like:
- Establishing themselves as leaders in global technology and engineering
- Making significant investments like their $49 million splurge on building a new global headquarters in Brookfield Connecticut for their Branson assembly technologies product line
Emerson was brought into existence by John W. Emerson back in 1890 and has since evolved from being just another regional manufacturing company to becoming an internationally recognised diversified technology and engineering leader.
Their commitment towards continuous innovation shines through their consistent development of new solutions tailor-made for customers across various sectors – all part of their ongoing research and development initiatives.
8. Broadcom
A giant in the electronics manufacturing sector, Broadcom Inc. is an American multinational that’s gained a strong foothold globally. With its wide array of semiconductor and infrastructure software products, Broadcom caters to diverse markets such as data centres, networking, software, broadband, wireless storage and industrial sectors. As we delve into 2022 statistics, it’s evident that semiconductor-based products dominated their revenue at 78%, while infrastructure software products and services contributed to the remaining 22%.
In 2022 alone, Broadcom saw their revenue soar by a whopping 21% year-over-year to hit a record-breaking $33.2 billion or approximately ₹2,72,155 crores. This remarkable performance didn’t stop there – they also posted a record adjusted EBITDA margin of 63%, generating free cash flow worth $16.3 billion or about ₹1,33,597 crores.
Broadcom’s accolades are just as noteworthy as its financial success. They’ve been awarded “Best Financially Managed Semiconductor Company” by the Global Semiconductor Alliance three times over the past four years – most recently in 2022! However, this dynamic company announced in May 2022 plans to acquire VMware – a leading virtualisation and cloud computing software vendor for an astounding $61 billion.
This tech powerhouse was brought to life in 1991 by Henry Samueli and Henry Nicholas from UCLA under the name Broadcom Corporation before being acquired by Avago Technologies in 2016. Since then it has operated as a wholly-owned subsidiary under the merged entity known as Broadcom Inc.
Over time they’ve expanded their portfolio through strategic acquisitions including CA Technologies back in 2018 and more recently announced plans for acquiring VMware in 2022. Their commitment towards fostering partnerships is evident with initiatives like the ‘Broadcom Software Partner Awards’ where they acknowledge key partners for outstanding contributions every year.
By consistently delivering high-quality products & services across various sectors coupled with smart growth strategies via acquisitions & partnerships; it’s no wonder that Broadcom holds a prominent place among India’s top electronics manufacturing companies.
9. Godrej
Taking pride of place among India’s top electronics manufacturing companies, you’ll find the renowned Godrej Electronics. As a significant part of the Indian multinational conglomerate, the Godrej Group, this company has marked its presence across diverse sectors. Be it real estate or consumer products, industrial engineering or furniture, security or agricultural products – they’ve got their fingers in many pies.
In terms of financial prowess, Godrej & Boyce, the flagship company under the Godrej Group umbrella reported stellar revenues during 2022-23. The numbers speak for themselves:
| Financial Year | Revenue (INR Crores) | Net Profit (INR Crores) |
|---|---|---|
| 2022-23 | 14,796 | 975 |
This powerhouse isn’t just about profits and turnovers; it’s also a significant employer. With over 15,000 employees as of 2022, they’re contributing significantly to job creation.
Godrej Electronics specialises in manufacturing and selling appliances that truly make life easier. From refrigerators and air conditioners to washing machines and air coolers – their product range is extensive. They cater to a wide clientele both within India and abroad encompassing residential and commercial sectors.
Based out of Mumbai in Maharashtra, these pioneers have been making waves since their inception way back in 1897 by Ardeshir Godrej and Pirojsha Burjorji Godrej. Their innovation first caught attention when they launched India’s first refrigerator in 1958.
Their zest for market dominance is evident from their aggressive market share strategy:
- Washing Machine Market Share (India): 11% as of 2022
- Targeted Air Cooler Market Share Gain: Over three years
Their commitment to research & development is commendable with increased investment funnelled into expanding their portfolio through subsidiary – ‘Godrej Tooling’.
They aren’t strangers to accolades either:
- Social Impact Award (Health & Sanitation category) – Won by Godrej Consumer Products in 2022
- Gold at India Health & Wellness Awards by IHW Council – Recognised for contribution against COVID-19
The bold strides made on the acquisition front are noteworthy too with an impressive tally of thirteen companies across varied sectors joining the family.
10. Dixon Technologies (India) Limited
Among India’s top electronics manufacturing companies, you’ll find the name of Dixon Technologies (India) Limited. This Indian multinational company has its headquarters in Noida and is best known for providing design-focused solutions across a wide range of sectors. Whether it’s consumer durables, home appliances, lighting, mobile phones or security devices – Dixon Technologies is leading the way.
Here are some key statistics to help you understand the scale of this operation:
- Revenue: ₹10,697.crores
- Net Profit: ₹121 crores
- Number of Employees: 1,700
The company’s portfolio includes manufacturing and assembly services for diverse products such as LED TVs, washing machines, LED and CFL bulbs, tubelights and downlighters. They also cater to the mobile phone market along with security surveillance systems and medical electronics.
What sets them apart in the industry is their vast clientele base that includes giants like Samsung, Xiaomi, Panasonic and Philips. Working with these high-profile clients has enabled Dixon Technologies to stand out among its competitors.
This powerhouse didn’t just appear overnight though; it was founded back in 1993. Since then they’ve grown exponentially and now operate from an impressive 17 manufacturing units spread across India. Some of these facilities even hold titles like ‘India’s largest manufacturing plant’ for specific products including LED televisions (in Tirupati), washing machines (in Dehradun), and LED bulbs (in Noida).
In terms of notable projects or partnerships that have propelled them further forward on their road to success – there’s one worth mentioning specifically. In 2023 they proposed a partnership with Xiaomi India that would allow them to manufacture and export mobile phones together.
The very same year saw Dixion make its initial public offering on BSE & NSE respectively – marking another significant milestone in their journey as an industry leader within Indian electronics manufacturing.
Conclusion on Electronics Manufacturing Companies in India
You’ve journeyed with us through a comprehensive look at the top 10 electronics manufacturing companies in India. These businesses have made significant strides, contributing to both national and global electronics markets.
These companies have demonstrated resilience and adaptability, navigating challenges such as rapid technological change and intense competition with strategic aplomb. They’ve also shown commitment to sustainability, investing in green technologies and efficient practices.
Looking ahead, you can expect these players to continue shaping trends within the industry. Whether it’s harnessing AI for automation or furthering research into renewable energy sources for production processes, the future looks bright indeed.
So there we have it – your guide to India’s best electronics manufacturing firms! Now you’re equipped with key insights into who’s who in this dynamic industry landscape.
he future of India’s electronics manufacturing industry is promising, with potential synergies with other booming sectors like IT and cement production, showcasing the country’s industrial diversity.
