Impact of 'Make in India': Imports for top electronics cos dip on rising local tide, possibly for the first time ever
Make in India' and component localisation has led to a decline in imports by major electronic firms such as Samsung, Apple, Whirlpool, Dixon and Havells — possibly for the first time ever.
The combined import value of eight electronics firms, that also include LG Electronics, Amber Enterprises and Haier India, fell 7% year-on-year in 2023-24 to ₹95,143 crore, according to their regulatory filings with the Registrar of Companies (RoC).
The total import value of these companies had crossed ₹1 lakh crore in 2021-22 and increased further in FY23.
Industry CEOs attributed the drop in imports to increasing manufacturing within the country and localisation.
Parts Mfg in India Picking Pace
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