XOR has more than 5 decades of experience in making high quality electronics products in manufacturing of Mobile Chargers, Power Banks, CCTV cameras, DVR and SMPS.
During an interaction with Mobility magazine, Mr. Arnav Mutneja, Founder XOR Technologies, talks about the scope of Make in India, the opportunities in this segment and how it is a game changer in mobile accessory sector.
What is your take on Make in India?
Make in India is the flagship initiative of the government, and holds the potential to be a key driver of the Indian economy. As a matter of fact, Make in India is an initiative that needs to be the core fundamental of any industry whatsoever. It needs adequate push from all stakeholders so that the development remains intrinsic in the complete ecosystem. The need of the hour is that backward integration be supported by pushing for incentives, especially for ancillary industries such as semiconductors, the shortage of which jolted the complete supply chain post the outbreak of the pandemic. Only such steps can bolster the Make in India initiative and make our country the largest global exporter of electronics within a decade for now.
In the accessory segment what are the opportunities that you see?
Wireless accessories for pertinent lifestyle need such as charging pads, charging power banks and chargers for accessories like TWS etc have huge potential for brands that want to establish themselves in the premium accessories segment. These utility-based offerings are only en route to become bigger, considering the ever-growing penetration of internet and mobile phones across the country.
Audio accessories also hold great potential and also get a push under the Make in India programme, owing to a few significant incentives. In addition to it, the market of party speakers is growing and there is significant advantage in manufacturing these in India.
XOR has been unanimous with Make in India concept. Explain with respect to R&D?
Back in the 1970s and 80s, India was very strong when it came to Industrial R&D. Globalization made Indian manufacturers who were investing heavily in Research unviable. All through the 1990s and 2000s, manufacturing faded in India and so did the R&D expertise.
We have realized that in order to compete with and race ahead any suppliers from across the globe, we need to continually reinvent ourselves with strong research and development. We need to remain ahead of the technology curve and be the first ones to provide to the consumers better experience through our products.
What are the challenges in Make in India?
As mentioned earlier, the biggest challenge in the visionary initiative is lack of backward integration and a robust ecosystem. Although we are in the last leg of manufacturing in India, we are still dependent on China for a lot of our raw materials like batteries, speaker drivers, etc. We need to develop an ecosystem by incentivizing industries involving mechanics, magnetics and chemistry. These core industries need to thrive along with availability of essentials metals and plastics. Only then we will be able to achieve our vision of becoming global leaders in the electronics manufacturing landscape.
Explain the future road map.
We are focused on building the audio portfolio with Neckbands, TWS, party speaker, soundbars etc. Within the next 2-3 years, we envision focusing on and building expertise in this area. In the near future, you would see quite a few innovative offerings from XOR Technologies that aid the modern lifestyle in the new normal.
What innovation & technology will be a game changer in mobile Accessories Industry?
Devices that manage energy efficiently and run long hours in a single charge are set to gain dominance. Also, devices that support fast charging by charging up to 80% in less than 30 minutes will serve the generation that is driven by their adrenaline rush. Besides, new technologies like Active Noise Cancelling will come to the forefront.
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