US-based computer giant HP has commenced the process of manufacturing laptops in India itself along with desktop towers, mini desktops and display monitors. This move from the manufacturer comes in the light of the government’s “Make in India” policy and the recently introduced production-linked incentive (PLI) scheme for electronics. HP happens to have the highest market share in India in the segment as it holds about 31.5%. This would make it the first time any computer has expanded its Made-in-India profile.
HP Plans to Further Push Local Investment
Talking about the expansion of HP’s Made-in-India profile, the company has invested with its manufacturing partner Flex at the latter’s Chennai facility. The MD of HP in India, Ketan Patel in a statement said that the company is looking to solidify its commitment in India because of the enabling environment of electronics products in the country. He added that HP is investing and widening its locally made product portfolio and will invest further as they begin to expand the local manufacturing.
HP has been riding on a constant growth wave in India ever since the beginning of the pandemic which has been more or less the industry trend and it is anticipated that the company’s revenues in 2021 are going to be around $ 3 billion. The demand for digital products has been on a high ever since the outbreak because of the online learning and working aspects. This resulted in companies like HP along with its rivals Dell, Lenovo, Apple and more growing in unprecedented times even though they faced the constraints of semiconductor shortage.
A recent study from an analyst firm IDC suggests that HP was able to register a sales growth of 59% in 2021 in India and performed strongly in both consumer and commercial markets. Now, HP’s move to push its local manufacturing comes at a time when the government has announced schemes such as PLI for IT hardware and a $10 billion investment for semiconductor manufacturing in the country. Ketan Patel informed that it would be the first time HP will be manufacturing products such as HP EliteBooks HP ProBooks and more in India.
