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The electronics manufacturing policies of the Centre and the Uttar Pradesh government will pave the way for companies to shift their base from China to India. The Uttar Pradesh government has unveiled a new electronics manufacturing policy to attract companies looking to shift their manufacturing base to India in the post COVID-19 scenario.
UP is already home to approximately 60 per cent of the total manufacturing units relating to mobile phones and components and we are confident that with such incentivization and policy support the state would further witness the accelerated establishment of units.
The India Cellular and Electronics Association (ICEA) has been working with the state government since the past five-six years. We believe that policy initiatives such as allowing dormitory facilities to be established within the manufacturing premises, is a welcome step by the state government. We are confident that cumulatively these policy interventions both by the Central Government as well as UP would definitely pave the way for shifting of base from China and elsewhere to UP and India. The industry body signed a memorandum of understanding (MOU) with the state government in January 2015, whereby ICEA’S objective was to establish a mobile manufacturing ecosystem. The outcomes targeted in this MOU were achieved within 2 years itself. A second MOU was signed with the Uttar Pradesh government in February 2018 with an investment target of Rs 10,000 crore and generation of 3 lakh jobs. The agreement is heading towards optimum fulfilment too. Will UP become the next Shenzen– the jury is out on that!
Similarly, earphones have undergone a massive change from a wired one to wireless and now the truly wireless, often referred to as TWS (true wireless stereo), bringing about a paradigm shift in the way people listen to their music or talk to someone over phone. With such gradual modifications, the mode of consumption of content has also evolved, thus redefining our listening experience with the touch of a button which has multi-functional controls nowadays.
The trend of TWS earphones is catching up in such a way that it has become a big market for companies – handset as well as accessories makers – to rake in moolah. Even when the entire country is struggling to be on the track in the aftermath of COVID-19 lockdown and businesses have been at an all-time low, the TWS hearables market is growing like never before, thanks to the growing compulsion of work from home and remote learning. According to a recent IDC report, the TWS accounted for 23.1% to the overall earwear category. TWS alone grew at 300.7% YOY.
With TWS earphones making rapid inroads into our today’s lifestyle driven digitally with superior audio quality, long battery, sweat-proof, customised fitting for a more comfortable experience; one thing is for sure that it’s going to further bring a positive impact on the industry – thanks to the increasing popularity and adoption of smartphones and other mobile devices.
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