Indian Consumer Electronic Manufacturers Expand Export Markets to Developed Nations
Companies like Havells, Voltas, and Blue Star are venturing into the US and European markets, marking a shift from their traditional focus on neighboring countries and emerging economies.
Indian consumer electronic manufacturers have traditionally focused on neighboring countries, the Middle East, and African nations for their exports. However, a recent trend has emerged, with companies like Havells, Voltas, and Blue Star setting their sights on developed markets such as the US and Europe. This shift in strategy reflects the growing confidence of Indian manufacturers in their ability to compete globally and the increasing demand for made-in-India products in developed nations. By expanding their export base, these companies aim to tap into new markets and boost their revenue streams.
Havells India sets up subsidiary in the US to distribute air-conditioners
Havells India, a leading consumer electronics company, has taken a significant step towards establishing a base for exports in the developed market. The company has formed a subsidiary in the US with plans to distribute air-conditioners in the American market. This move demonstrates Havells’ commitment to expanding its presence beyond traditional export destinations and tapping into the lucrative US market.
Dixon Technologies to scale up exports of Motorola smartphones to the US
Dixon Technologies, a homegrown contract manufacturer, is set to ramp up its exports of Motorola smartphones produced in India. With almost 28-30% of its production earmarked for export to the US, Dixon is capitalizing on the growing demand for Indian-made smartphones in the American market. The company is also exploring similar export opportunities for its lighting products, signaling its intention to diversify its export portfolio and enter new markets.
Voltas receives export orders for refrigerators and dishwashers from Europe
Tata-owned Voltas has secured export orders for frost-free refrigerators and dishwashers from Arçelik, a leading European appliances brand. These orders highlight the increasing recognition of Indian consumer electronic manufacturers for their quality products in developed markets. Voltas’ entry into the European market underlines the company’s commitment to expanding its global footprint and diversifying its revenue streams.
Blue Star focuses on designing and manufacturing for international markets
Blue Star, a prominent AC maker, has adopted a unique approach to penetrate international geographies like the US and Europe. Rather than selling its own brand, the company aims to design and manufacture products for other brands in these markets. This strategy allows Blue Star to tailor its products to meet specific regulations, energy efficiency standards, and safety requirements of each country. By focusing on custom-designed products, Blue Star aims to establish a strong presence in international markets and achieve a target of $500 million in global business within three years.
Conclusion:
Indian consumer electronic manufacturers are venturing into developed markets, signaling a shift in their export strategy. Companies like Havells, Voltas, Dixon Technologies, and Blue Star are capitalizing on the increasing demand for made-in-India products in the US and Europe. This expansion into new markets not only diversifies their revenue streams but also showcases the growing confidence of Indian manufacturers in their ability to compete globally. As these companies continue to invest in value-addition in manufacturing and explore export opportunities, they are poised for significant growth in the coming years.