Dixon Technologies has entered into a joint venture with Signify Innovations India to manufacture lighting products in India, marking a strategic move to strengthen domestic OEM capabilities, as reported by CNBC-TV18. The announcement coincides with the government’s finalisation of a new ₹25,000 crore Production-Linked Incentive (PLI) scheme to promote electronics component manufacturing.
On March 27, Dixon Technologies confirmed that it has formed a 50:50 joint venture with Signify Innovations India Limited. The venture will focus on the original equipment manufacturing (OEM) of lighting products and accessories.
As per the agreement, neither Dixon nor Signify will hold a stake in each other’s core businesses. The JV will handle a portion of Signify’s existing OEM lighting orders in India and is also expected to serve other brands under the OEM model, further expanding Dixon’s footprint in the lighting segment.
On the same day, CNBC-TV18 reported that the Ministry of Electronics and Information Technology (MeitY) has finalised a cabinet note for a ₹25,000 crore PLI scheme. The proposal is set to be submitted to the Cabinet for approval shortly.
The new scheme will cover critical components such as batteries, displays, camera modules, and printed circuit boards (PCBs). This is part of India’s effort to strengthen its domestic electronics ecosystem and reduce dependence on imports.
The move comes after the closure of the earlier Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) in March 2024.
The PLI scheme is expected to attract investments worth ₹40,000–₹45,000 crore, according to industry estimates. It aims to:
The plan aligns with earlier successful PLI initiatives in mobile phones, IT hardware, and semiconductors, which have contributed to significant growth in domestic production capacities.
Shares of Dixon Technologies closed 1.58% higher at ₹13,470.00 on March 27,
Dixon Technologies’ partnership with Signify and the government’s upcoming PLI scheme signal strong momentum in India’s manufacturing ambitions. As the country focuses on self-reliance and supply chain localisation, these developments are set to play a key role in boosting India’s electronics and lighting manufacturing sectors.
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Published on: Mar 27, 2025, 7:29 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and asset management, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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