Dixon Technologies India to Double Revenue Amidst India's Electronics Manufacturing Boom
Driven by rapid growth in local electronics manufacturing, Dixon Technologies India, an assembler of Google's Pixel smartphones, anticipates doubling its revenue this fiscal year.
India has emerged as a major hub for electronics manufacturing, with global giants like Google and Apple shifting their supply chains away from China.
"The growth trajectory for both the sector and Dixon will be aggressive in the near future," said Atul Lall, Managing Director of Dixon.
Dixon reported a 45% increase in revenue to 177.13 billion rupees ($2.04 billion) for the financial year ending March 2024. For the nine months ending December 31, its revenue stood at 285.77 billion rupees.
Beyond assembling smartphones, Dixon has expanded into component manufacturing to capitalize on India's incentives for mobile and laptop parts production.
India's electronics manufacturing sector is projected to grow to 6 trillion rupees in fiscal year 2027, significantly higher than the 1.46 trillion rupees in 2022.
However, analysts note that US President Donald Trump's potential imposition of retaliatory tariffs could pose a risk to India's export sectors, possibly resulting in losses of around $7 billion annually.
Dixon, which has invested heavily in export capabilities, awaits further details on the tariff issue.