Dixon Technologies India, which assembles Google’s Pixel smartphones, is set to more than double its revenue this fiscal year, driven by rapid growth in local electronics manufacturing, a top executive told Reuters.
Electronics manufacturing has gained momentum in India as global giants, including Alphabet’s Google and Apple, expand their supply chain away from China.
“(For) the sector and Dixon, the growth path is going to be extremely aggressive in the coming future,” Managing Director Atul Lall said on Wednesday.
The contract manufacturer reported a revenue of Rs. 177.13 billion ($2.04 billion) for the 2024 financial year that ended in March, up 45 percent from a year earlier. Its revenue stood at Rs. 285.77 billion for the nine months ended December 31.
Noida-based Dixon, which also assembles smartphones for firms such as China’s Xiaomi and Oppo, has branched out into component manufacturing as India plans to offer billions of dollars in incentives to make parts for mobiles and laptops.
India’s electronics manufacturing sector is set to grow to Rs. 6 trillion in fiscal year 2027, from Rs. 1.46 trillion in 2022, brokerage Motilal Oswal said in a note in December.
However, US President Donald Trump’s threat to impose reciprocal tariffs from early April could pose a risk, with analysts estimating potential losses at about $7 billion (roughly Rs. 60,693 crore) a year for India’s export sectors.
Lall said Dixon, which has invested heavily to cater to rising export demand for electronics, is awaiting more details on the issue as the US has made only broader statements so far.
© Thomson Reuters 2025
