Electronics cos charged up for big revenue boost

New Delhi: India’s domestic electronics manufacturing services (EMS) industry revenues are set to more-than-double to reach $55 billion by FY2027, driven by increased sourcing of components locally, with Apple, Samsung, Lenovo and other global companies expected to expand their presence in India.

A BNP Paribas report expects Apple to expand its investment to $40 billion in the next 4-5 years to significantly increase its production capacity in India, while Korean major Samsung is looking to expand its manufacturing presence by producing laptops, in addition to smartphones.