Made in India TV shipments grew 33 percent from July to September in 2022, compared to the previous quarter to reach over five million units, according to research from Counterpoint’s Made in India service.

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Dixon — a contract manufacturer of televisions and other electronics for companies such as Samsung, Xiaomi, Panasonic and Philips — led the shipments, followed by Radiant, which is one of the largest LED TV manufacturers in India.

In the electronic wearables category, the truly wireless stereo (TWS) segment led in terms of local manufacturing with almost 34 percent of its shipments being manufactured in India, the research said.

Senior Research Analyst Prachir Singh attributes the growth to the festive season, which drove consumer demand, increasing local manufacturing shipments as well. “The top five manufacturers contributed to more than 55 percent of the locally manufactured TV shipments in the third quarter (Q3) of 2022. Local manufacturing continues to stay robust for segments like smartwatches, TWS, tablets and neckbands also,” he said.

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The local manufacturing share in the TWS segment also increased to 34 percent in Q3 2022 from 16 percent in the previous quarter. Bharat FIH, Padget, Avishkaran and Optiemus were the top four brands and cumulatively contributed to almost 90 percent of the locally-manufactured TWS shipments, Singh added. In the tablets category, Samsung, Dixon and Wingtech contributed to more than 90 percent of the locally-manufactured shipments. However, in the smartwatch category, Optiemus dominated local manufacturing and contributed to more than 90 percent of the shipments.

On the Indian government’s focus, Senior Research Analyst Anshika Jain said, “Under the Made in India theme, local manufacturing aims to even go beyond smartphones to cover segments like audio products, wearables and EVs. More and more efforts are on to make the country a significant player in the global value chain. These efforts now also include semiconductor manufacturing. Many states like Gujarat have even come out with their own semiconductor policies and are bringing about associated reforms and policy changes (like labour and land reforms in Karnataka) to harness India’s potential in this space.”

The government’s vision to increase local manufacturing as well as design capabilities in India is said to impact the local value addition in the wearables segment. Many companies are also likely to increase their capacities, with the new entrants also opting for local manufacturing.

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(Edited by : Shoma Bhattacharjee)