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India’s Electronics Trade: How’s It Doing?


Provide-chain issues, lack of manpower, fluctuating greenback, and inflation are a couple of of the challenges being confronted by India’s electronics trade. Elevated demand, increasing buyer base, and development in indigenous manufacturing are among the blessings for India’s electronics trade. So, how’s the sector really doing? Has it recovered post-Covid or not?

Provide-chain issues, lack of manpower, fluctuating greenback, and inflation are a couple of of the challenges being confronted by India’s electronics trade. Elevated demand, increasing buyer base, and development in indigenous manufacturing are among the blessings for India’s electronics trade. So, how’s the sector really doing? Has it recovered post-Covid or not?

“How was the final monetary yr for India’s Electronics Trade?”

That’s the query our crew tried to seek out a solution to by talking to 350-plus top-shots and enterprise executives unfold throughout totally different segments of the trade, and geographies. What we uncovered is fairly thrilling.

Enterprise tendencies

Since we acquired a chance to talk to key executives, we not solely requested about enterprise tendencies however another associated points too. However, first let’s have a look at the important thing enterprise tendencies uncovered…

Was FY 21-22 a development FY?

Have the companies grown within the newest monetary yr (Apr 21-Mar 22) over the earlier yr (Apr 20-Mar 21)? That’s the primary query we posed. And, we have now excellent news to share…Was FY 21-22 a growth FY

A whopping 84.3% reported that it’s a lot better than the earlier FY. And, solely 10.3% reported that it’s not pretty much as good, with 4.9% reporting it as “just like the earlier FY.” For only a few it was very unhealthy.

How was FY 21-22 as in comparison with the pre-Covid FY?

In different phrases, have you ever grown over the FY which had little impression of Covid? That’s what we posed subsequent.How was FY 21-22 as compared to the pre-Covid FY

We had been stunned by the findings right here. For a really massive majority (71.5%) the earlier FY was even higher than FY 19-20. Which means India’s electronics trade has recovered from the ills of Covid, and is striding in the direction of a quick development.

Consequence. 71.5%: It’s a lot better | 21.9%: It isn’t good | 6.2%: It’s related| Relaxation: It is vitally unhealthy (0.4%)

How’s the supply-chain disaster?

You can not produce a significant survey on the electronics trade with out exploring this urgent situation—the extreme supply-chain disaster that’s affecting manufacturing all throughout the globe, together with India.How’s the supply-chain crisis?

Given the optimistic outcomes shared earlier, we felt that the supply-chain disaster would have diminished. However, we had been flawed! A majority (64.8%) said that it’s as unhealthy as earlier. Moreover, 16.4% said that it’s gotten worse.

Consequence. 64.8%: It’s unhealthy as earlier | 16.4%: It’s worse than earlier | 13.8%: It’s not a problem | Relaxation: It’s a lot better (5%)

Launching new merchandise?

This query was targeted on the OEMs. Given the distinctive mixture of challenges and alternatives, had been they launching new merchandise? Had they launched any product lately or had been planning to launch one quickly?

It was encouraging to see that 52% of them have launched new merchandise lately. And, a further 20% are planning to launch one shortly.

In different phrases, there’s clear proof of funding of their companies, and therefore setting the stage for long-term development.

Consequence. 52.9%: Have launched new merchandise lately | 20.6%: Planning to launch new merchandise shortly | 26.5%: Not launched and haven’t any plan to launch in close to future

Increasing channel companion community?

Sometimes, when a market is increasing, the necessity for partnerships will increase—particularly between OEMs and their channel companions or system integrators.

37% turned out to be companies that don’t want channel companions. Barring them, the bulk polled (34%) appear to be proud of their current channel companions and therefore weren’t eager on increasing or inviting new companions. About 20% are actively searching for new companions—and may very well be a chance for like minded corporations to companion,

Consequence. 37.1%: Our enterprise doesn’t require channel companions | 34.3%: No want for increasing channel companion community for now | 20.5%: Sure, we’re increasing our channel companion community | 8.1%: Sure, we plan to start out increasing our channel companion community.

HR Traits

Moreover the enterprise tendencies, our survey managed to seize some precious insights with respect to hiring tendencies of the trade. Nonetheless, since we had been talking to enterprise choice makers and influencers, some weren’t certain about their hiring practices and therefore couldn’t reply these questions.

Are you hiring now?

One of many first casualties of Covid was job cuts. Is that darkish interval over? Has hiring began? That’s what we sought to seek out out.Are u hiring now

Glad to report that there’s excellent news right here too: a big majority (54%) confirmed that they’re actively hiring!

Consequence. 54.1%: Hiring new expertise | 37.0%: No, we’re not hiring | 9%: Not aware of present hiring wants.

Is hiring tech expertise a problem?

Publish-Covid, there’s been loads of discuss round ‘mass resignation,’ particularly within the tech sector. Some corporations have seen their attrition contact 30% on a quarterly foundation! Since tech expertise kinds the core of the electronics trade, it was essential to know if hiring tech expertise was posing a problem to Indian companies.Is hiring tech talent a challenge

As anticipated, nearly all of the respondents (70%) shared that they had been going through challenges in hiring tech expertise. Looks as if it’s the perfect time for gifted techies proper now.

Consequence. 70.2%: Sure, hiring good individuals with technical background is a problem | 14.4%: No, we don’t discover technical hiring a problem | 15.4%: Not ready to remark.

Are the roles seen on web sites like LinkedIn or Naukri.com?

With so many corporations hiring, the place can the tech expertise go to know in regards to the alternatives out there? Is it job web sites like Naukri.com or LinkedIn? 56% promote their job openings on job-related web sites. The others appear to be relying on conventional strategies like references, businesses, and so on.LinkedIn or naukri.com

Consequence. 56.3%: We use portals like Naukri.com & Linkedin for hiring | 32.3%: No, we don’t | 11.5%: Not ready to remark.

Are you able to checklist electronics jobs free of charge on ElectronicsForU.com?

That’s a query we requested ultimately to know if the trade was conscious in regards to the platform we had developed for them to interact and appeal to the appropriate expertise. Sadly, a majority (68.9%) was unaware of it. Clearly, our advertising and marketing crew should do a greater job for selling this platform.

Consequence. 68.9%: We weren’t conscious | 31.1%: Sure, we’re conscious.

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