Ekkaa Electronics has announced plans to invest Rs. 1,000 crores in a new state-of-the-art manufacturing facility at Noida, Uttar Pradesh. The new factory is expected to be operational by August 15th, 2023, and will not only manufacture LED TVs but also other consumer electronics products like washing machines, smartwatches, hearables and TWS. With this, Ekkaa aims to move from assembly to core manufacturing of consumer electronics products.
With India aiming to reach USD 300 billion worth of electronics manufacturing and USD 120 billion in exports by FY ‘26, supported by the vision of a USD 1 trillion digital economy by 2025, Ekkaa will further consolidate its position in this space and emerge as a force to reckon with. To cater to the burgeoning export demand, Ekkaa will soon launch an export arm as well.
Sagar Gupta, Director, Ekkaa Electronics, said, "Out of the proposed investment of Rs.1,000 crores, 40 per cent has been aligned for land acquisition, construction, working capital, manufacturing and Research and Development. The infusion of funds will be a continuous process as we are not only increasing production capacity but also expanding our product lines."
"The new facility at Noida will have an initial capacity to manufacture 500,000 units of LED TVs per month which will make the plant the largest facility in terms of capacity in the country with potential to ramp it up to 800,000 to 900,000 units per month in the next three years", added Gupta. To begin with the new facility will have a workforce of 1500 employees with plans to ramp it up to 3000 over three years.
At present Ekkaa caters to the requirements of 150 pan-India and regional brands and exports to neighbouring countries like Nepal, Bangladesh, and Bahrain. The new facility and product lines will enable it to export to countries like Africa, the Gulf nations and over a period of time, to Europe and the USA as well.
The company aims to produce commercial, interactive, outdoor, education displays, touch panels, gaming monitors, and office monitors that are currently imported.
