Dixon Technologies India, known for assembling Google's Pixel smartphones, is on track to more than double its revenue this fiscal year, fueled by the increasing scale of local electronics manufacturing. The sector's growth trajectory is anticipated to be notably aggressive, according to Managing Director Atul Lall.
In the previous financial year through March 2024, the contract manufacturer recorded a revenue of 177.13 billion rupees ($2.04 billion), marking a 45% increase over the prior year. Revenue for the nine months ending on December 31 stood at 285.77 billion rupees.
Dixon, based in Noida, has diversified into component manufacturing in response to India offering incentives for producing parts for mobiles and laptops. This move comes as India's electronics manufacturing industry is projected to surge to 6 trillion rupees by fiscal year 2027 from 1.46 trillion rupees in 2022, as per brokerage Motilal Oswal’s report from December.
While heightened U.S.-China trade tensions persist, Dixon is attentive to potential risks posed by U.S. President Donald Trump's threat to impose reciprocal tariffs starting in April, which could impact India's export sectors. Lall mentioned that the company, having made substantial investments to meet the escalating global electronics demand, is vigilant for further details on the matter as the U.S. position remains broadly outlined.
(1 USD = 86.8580 INR)