The 12th Mobility India Conclave 2025 was designed to be an ideal platform to gain insights into the latest developments in India’s electronics manufacturing sector and to engage meaningfully with the partner community. The panel discussion was designed to be highly informative and inspirational focused on the Make in India initiative, highlighting the significant progress achieved over the past decade and its future outlook. Panelists shared perspectives on how the initiative has helped transform India into a growing manufacturing hub, especially for mobile handsets and accessories. The discussion also covered evolving government policies, the current manufacturing landscape, key challenges faced by the industry, and the strong growth potential anticipated in the coming years.
MODERATOR: Mr. Sukanta Dey, B.Tech from IIT Kharagpur and an MBA in Finance and Marketing from IIM Kolkata
PANELISTS: Mr. Varun Aggarwal, Founder & Managing Director, Mobatree; Mr. Saket Gaurav, CMD, Elista and TeknoDome Group; Mr. Kapil Wadhwa, CEO, Dimension Next Infocom Pvt Ltd; Mr. Bhupesh Raseen, Founder and CEO, Zen Synergy Ventures; and Mr. Puneet Singhal, President, CMDA-Delhi.
MODERATOR: Mr. Sukanta Dey, B.Tech from IIT Kharagpur and an MBA in Finance and Marketing from IIM Kolkata
“India’s share in global trade remains around 3 percent, which is relatively modest considering the country’s inherent advantages. India benefits from a large, well-informed population, a robust network of engineering and technical institutions, and a highly skilled workforce. Despite these strengths, the country has yet to fully capitalize on its potential in international trade. Beyond physical goods, India has become a hub for services through nearly 8,000 Global Capability Centers (GCCs). Many multinational corporations have established their largest or second-largest global offices in India, exporting high-value services and reinforcing India’s role in the global trading ecosystem. China’s global outlook allows it to achieve high production volumes, lower per-unit costs, and consistent investment in R&D, resulting in superior product quality at competitive prices. In contrast, much of India’s manufacturing focuses on domestic demand. While the country has a large consumer base with significant purchasing power, this limited global engagement restricts manufacturing scale and international competitiveness. The resulting imbalance between imports and exports contributes to a persistent trade deficit, affecting fiscal stability and currency strength. Expanding manufacturing is therefore critical not only for economic growth but also for stabilizing the currency.”
Mr. Saket Gaurav, Chairman & Managing Director, Elista and TeknoDome Group
“The Make in India initiative has made notable progress over the past decade, strengthening India’s manufacturing capabilities and enabling the country to meet domestic demand in key sectors such as consumer electronics and IT products. The initiative can be divided into two phases. The first phase aimed to reduce India’s dependence on imported finished goods, a goal largely achieved through supportive government policies and a shift in consumer preference toward domestically manufactured products. As a result, imports of finished goods have declined, and India now possesses the capacity to produce a wide range of products locally, demonstrating self-reliance in critical sectors. The second phase, currently underway, focuses on positioning Indian manufacturing on the global stage. This requires Indian manufacturers to compete with established global players, particularly China and other Far East economies, which adopted a global outlook early, treating the world as their primary market. The next step is active participation in international markets. Companies such as Elista have exemplified this approach since 2020, promoting ‘Making in India for the World.’ Leveraging distribution channels across the Middle East, Central Asia, and Africa, Elista’s Andhra Pradesh facility now serves multiple international markets, highlighting India’s potential to compete globally.”
Mr. Varun Aggarwal, Founder & Managing Director, Mobatree
“Despite the progress so far, India’s transition to a major global manufacturing player remains incomplete due to structural and practical challenges. A key constraint is the continued dependence on imported raw materials, particularly from China, Japan, and South Korea, which increases costs and exposes manufacturers to external risks. Additionally, manufacturers face a cumulative tax and compliance burden of 60–65 percent, including import duties, GST, corporate and income taxes, and indirect taxes, leaving limited margins to cover operational expenses, compliance costs, working capital, and long-term sustainability. For India to develop a robust export-oriented manufacturing base, manufacturers must embrace an export mindset driven by three critical factors: scalability, affordability, and timely delivery.”
Mr. Kapil Wadhwa, CEO, Dimension Next Infocom Pvt Ltd
“India’s manufacturing journey has evolved significantly over the years. The next logical milestone is the localization of assemblies and sub-assemblies within the country, which has the potential to create a substantial impact on value addition, employment, and overall industrial growth. Another key area of progress is exports. This growth has provided strong leverage to the manufacturing ecosystem and has reached a stage where further expansion is both viable and necessary. As export volumes increase, manufacturing facilities are also scaling up capacity to meet global demand. This reflects a clear shift in the government’s mindset and policy focus toward strengthening domestic manufacturing and positioning India as a competitive exporter of electronics products to international markets. The rapid adoption of artificial intelligence is creating new efficiencies and opportunities within the manufacturing sector. AI-driven processes are improving productivity, quality control, and decision-making across the value chain. The opportunity ahead lies in aligning industry capabilities with this evolving ecosystem and capturing long-term growth through innovation, localization, and global expansion.”
Mr. Bhupesh Raseen, Founder and CEO, Zen Synergy Ventures
“India today offers immense opportunities for manufacturing, particularly in the electronics, mobile phones, and accessories segments. Global brands, particularly from the US and Europe, are increasingly looking beyond China and engaging with Indian OEMs and ODMs. Today, not only major brands such as Apple and Samsung, but also leading audio and electronics brands like JBL and Harman, are manufacturing products in India through Indian partners. This shift represents a major milestone and highlights the growing confidence in Indian manufacturing capabilities. From an export perspective, Africa presents the largest opportunity, especially after the African Continental Free Trade Area agreement, which enables duty-free trade across 54 countries. In addition, markets such as Russia, Eastern Europe, Latin America, and Southeast Asia offer strong potential. As the industry moves beyond assembly toward full-scale manufacturing, investment in research and development becomes critical. Companies with strong in-house R&D and design capabilities in India will be best positioned for long-term success. This presents a significant opportunity for Indian OEMs, ODMs, and brands to build sustainable, globally competitive businesses.”
Mr. Puneet Singhal, President, CMDA-Delhi
“At CMDA as well as CAIT, our collective focus remains firmly aligned with the promotion of the Make in India initiative. In every possible capacity, we are working to support manufacturers, entrepreneurs, and industry stakeholders by facilitating dialogue, sharing information, and enabling access to opportunities that strengthen domestic manufacturing. With regard to government incentives, it is important to note that these vary significantly from state to state. Almost every state in India today offers some form of support for manufacturing, whether through capital subsidies, tax benefits, infrastructure assistance, or faster approval mechanisms. At the national level, the central government is also playing an active role in encouraging indigenous manufacturing. Initiatives such as Swadeshi Melas, International trade fairs, and global exhibitions are being organized to promote Indian-made products and provide manufacturers with exposure to both domestic and international markets. Together, state-level incentives and national promotional initiatives form a comprehensive ecosystem aimed at strengthening India’s manufacturing base. With continued collaboration between industry bodies, state governments, and the central government, Make in India is steadily moving from a policy vision to an operational reality.”
Nutshell
India’s manufacturing sector has made significant progress over the past one to two decades, driven largely by the Make in India initiative. From a modest share in global trade, today, India has built strong domestic capabilities in consumer electronics, IT products, and other sectors, reducing dependence on imported finished goods. Despite these gains, challenges remain. India continues to rely heavily on imported raw materials, particularly from China, Japan, and South Korea, increasing input costs and exposure to external risks. To fully realize India’s global potential, manufacturers must focus on scalability, affordability, and timely delivery to meet international buyer expectations. With continued investment in R&D, innovation, and global market integration, the next phase – Making in India for the World – can transform India into a sustainable, globally competitive manufacturing and export hub.
Covered By: Mobility India / 12th Mobility India Conclave & Excellence Awards 2025
If you have an interesting Article / Report/case study to share, please get in touch with us at editors@roymediative.com, roy@roymediative.com, 9811346846/9625243429.
