India’s Electronics Mart eyes new markets as tech hubs fear job losses

Hyderabad-based Electronics Mart India is looking to diversify away from the technology hub as concerns grow that potential AI-triggered job losses could hurt consumer spending, a top executive said.

The retailer gets about 60% of its revenue from Hyderabad, which hosts offices of global companies such as JPMorgan Chase and Eli Lilly, and Indian ‌IT majors Wipro ⁠and ⁠Infosys.

Around a fifth of its stores in Hyderabad are located in neighbourhoods where the majority of the residents are software employees.