New Delhi [India], October 8 (ANI): At an expected growth rate of about 13 per cent a year, homegrown consumer technology brands could earn about Rs 1.11 lakh crore by FY2031 and Rs 2.04 lakh crore by FY2036, according to the inaugural Viksit Tech 47 Report released on Thursday.
The projections could rise further to Rs 1.26 lakh crore and Rs 2.65 lakh crore if domestic players secure a higher market share in smart and connected segments at an annual expansion rate of 16 per cent.
The document, titled "Building India’s Global Brands in Gadgets, Devices, Appliances and Connected Cars," was launched at the India Mobile Congress (IMC) Viksit Tech 47 spotlight programme. Published to mark the tenth anniversary of IMC, the study tracks the value retained by indigenous companies within the broader consumer technology market.
The findings show that 129 domestic brands currently generate over Rs 60,000 crore annually across gadgets, appliances, and connected vehicles. This translates to an average revenue of about Rs 465 crore per brand.
Out of these 129 firms, only 14 register turnover above Rs 500 crore, while merely two companies exceed Rs 2,000 crore.
This stands in contrast to overall domestic electronics production, which reached Rs 13.11 lakh crore in FY2025-26, indicating that the bulk of value remains concentrated with global firms and contract assemblers.
Faisal Kawoosa, Chief Analyst and Co-founder at Techarc, said, "Our research identifies 129 homegrown brands that meet a strict test of Indian ownership and consumer electronics focus. Together they earn more than Rs 60,000 crore a year, an average of only about Rs 465 crore per brand."
"Most of these brands are still at the early stages of their evolution, trading or assembling products rather than engineering them," Kawoosa added. "India’s opportunity, and the purpose of Viksit Tech 47, is to help many more brands make that journey."
The assessment uses Techarc’s TAME model to outline four operational stages: Trade, Assemble, Manufacture, and Engineer. The first three phases face revenue ceilings of Rs 500 crore, Rs 5,000 crore, and Rs 50,000 crore, respectively. Substantial expansion into lakhs of crores occurs only at the Engineer stage, where enterprises own their design, software, and intellectual property.
Domestic value addition in electronics stands at roughly 17 per cent, with Indian brands holding low single-digit shares in the domestic smartphone market amid scarce patient capital and low research spending. The report proposes an ambition for India to establish 50 homegrown brands generating Rs 1 lakh crore each by 2047, requiring sustained annual growth of 25 per cent over the next two decades.
P Ramakrishna, Chief Executive Officer of India Mobile Congress, underlined the broader industrial objective.
"A nation that aspires to be Viksit by 2047 must do more than make products for others," Ramakrishna stated. "It must create, own and scale its own brands, and see them succeed in India and around the world."
"The ambition this report sets, 50 Indian brands each earning more than Rs 1 lakh crore by 2047, is bold," Ramakrishna said. "It is also the kind of ambition this moment calls for."
The release ceremony included ICEA Chairman Pankaj Mohindroo, Lava International Managing Director Sunil Raina, MediaTek India Managing Director Anku Jain, Qubo CEO Nikhil Rajpal, and Mivi CBO Himanshu Tandon. (ANI)
Homegrown tech brands projected to cross Rs 2 lakh crore revenue by FY36: Report
