Dixon Technologies, Signify Ink JV to Boost Lighting Manufacturing

27 Mar 2025 , 05:39 PM

On 27 March 2025, Dixon Technologies announced a JV with Signify Innovations India Ltd. OEM of lighting products and accessories in India would be the focus of the partnership, it added

The new JV will be equally held by Dixon and Signify with 50% stake each. The deal does not state that either company will have ownership stakes in each other’s existing businesses. The JV would take on a portion of Signify’s original equipment manufacturing (OEM) lighting orders in India, he added, which would lead to enhanced manufacturing capacity domestically.

The JV will also partner with various brands in the OEM business in lighting products, thus broadening its scope. This formation of a JV supports the Indian government’s “Make in India” initiative to reduce imports through domestic manufacturing.

The Centre has proposed a ₹25,000 crore Production-Linked Incentive (PLI) scheme to bolster the domestic electronics manufacturing ecosystem in the country, the Ministry of Electronics and Information Technology (MeitY) has prepared a Cabinet note for the same. It is likely to soon be submitted to the Cabinet for approval, in what would be a big push for self-reliance in electronics - Narendra Modi’s trademark policy plank.

The latest PLI scheme aims to provide incentives for the manufacturing of critical electronic components, such as:

• Batteries
• Displays
• Camera modules
• Printed Circuit Boards (PCBs)

Such initiative will replace the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) which ended in March 2024.

The government is hopeful that the new PLI scheme will draw investments of ₹40,000-45,000 crore and create a substantial boost to India’s electronics ecosystem. The scheme promotes local production, which in turn reduces their dependency on imports while to also boost domestic manufacturing capabilities.

This initiative is also likely to generate new employment opportunities in the electronics sector within India, contributing to economic growth and job creation. By enhancing domestic electronics manufacturing, India will emerge as a global center for critical electronic components, bolstering its competitive edge in foreign markets.

The plan expands on the success of earlier PLI schemes in mobile phones, semiconductors and IT hardware, and further strengthens India’s position in the global electronics supply chain.