Headquartered in Sonipat, Haryana, Ekkaa Electronics is original equipment manufacturer (OEM), and original design manufacturer (ODM) in India expert in designing and manufacturing LED TVs. Sagar Gupta, the visionary entrepreneur behind Ekkaa Electronics, has rapidly ascended the ranks of India’s business world, shaping the company into a powerhouse within the electronics manufacturing sector. In an exclusive interview, he shared insights into the journey, the company’s growth trajectory, and the evolving landscape of India’s electronics industry.
Can you share the entrepreneurial journey of Ekkaa Electronics to date?
My entrepreneurial journey has been quite a transformative experience. I was born and raised in Delhi, where I had the privilege of receiving a letter of excellence in academics from the HRD Ministry in 2014. I graduated from the esteemed Shri Ram College of Commerce (SRCC), Delhi University, with a B.Com (H). My academic path also included clearing levels of the CA foundation and intermediate exams with exemptions. Additionally, I completed several NCFM exams and appeared for the CFA (USA) exams to gain a deeper understanding of finance and economics. My professional journey began with an article ship at an Indian firm where I directly handled the management consultancy and tax compliances for a client base exceeding 150 companies. My father, Mr. C.P. Gupta, laid the foundation of our family’s entrepreneurial legacy by starting a distribution business for semiconductors and electronic components around 30 years ago.
In 2018, at the age of 26, I embarked on my entrepreneurial journey by founding Ekkaa Electronics. Despite my youth, I was determined to tackle the challenges of managing a company. Today, Ekkaa Electronics oversees a business valued at INR 600 crore and has quickly risen to prominence. Within just three years, we became India’s No.1 Original Design Manufacturer (ODM), solidifying our position as a leader in the industry.
How the recent budget allocation for R&D in the electronics sector has will help boost innovation initiatives? Are there specific areas where the company plans to invest in research and development?
The increased budget allocation for R&D signifies the government’s commitment to fostering innovation. Companies can leverage this by collaborating with research institutions, universities, and startups. By participating in joint ventures or setting up dedicated R&D centers, they can explore cutting-edge technologies. Areas such as display technology, for example, OLED, Micro LED, energy-efficient components, and smart manufacturing processes are ripe for innovation.
When spoken specifically about EKKAA Electronics, the budget’s emphasis on skill development aligns with our long-term vision. We can allocate more resources to training programs, workshops, and internships. By nurturing a skilled workforce, we will be able to drive innovation internally. Furthermore, We will collaborate with educational institutions to bridge the gap between academia and industry. Encouraging cross-disciplinary research and fostering a culture of curiosity will empower our teams to explore novel solutions. Additionally, Ekkaa Electronics might invest in AI-driven features, sustainable materials, and more user-centric designs to enhance our product portfolio.
With the government’s emphasis on local manufacturing and exports, how does Ekkaa Electronics plan to leverage the Production-Linked Incentive (PLI) scheme to boost domestic production and compete globally?
I’m excited about the opportunities the Production Linked Incentive (PLI) scheme presents for our company, since the PLI scheme aligns perfectly with our vision of “Make in India.” Let me share how we plan to leverage it.
The PLI scheme provides a financial incentive to boost domestic electronics manufacturing. We aim to expand our production capacity for LED TVs, multimedia speakers, and other consumer electronics. Simultaneously we will enhance our manufacturing capabilities, create jobs, and contribute to India’s economic growth significantly.
The PLI scheme encourages companies to manufacture in India and compete on a global scale. Ekkaa Electronics will focus on quality, innovation, and cost-effectiveness. We’ll invest in research and development (R&D) to develop cutting-edge products. Our goal is to position Ekkaa as a reliable and competitive player in the international electronics market.
Given the push for digital infrastructure and smart cities, what role does Ekkaa Electronics envision for itself in providing affordable, technologically advanced consumer electronics to urban and rural markets?
I’m quite optimistic about the Government’s vision of bridging the digital divide and empowering both urban and rural consumers with advanced yet affordable electronics. When it comes to our possible contribution to this mighty vision, we aim in urban center to be the go-to brand for cutting-edge consumer electronics. Our smart TVs, home appliances, and IoT devices will seamlessly integrate into the digital lifestyle of urban dwellers. We’re committed to providing high-quality products with features like AI-driven content recommendations, energy efficiency, and sleek designs. Whether it’s a LED TV’s for immersive entertainment or a smart washing machine for convenience, Ekkaa Electronics will cater to the discerning urban consumer.
Ekkaa Electronics recognizes the immense potential in rural India. Our focus extends beyond affordability; it’s about accessibility. We plan to offer regional language interfaces and relevant content to bridge the language gap. Alongside, we will also establish service centers in rural areas to ensure prompt assistance. One more measure which will contribute significantly to bridge the gap is to develop solar-powered TVs and appliances to tackle electricity challenges.
What factors have driven India’s transition from being an electronics importer to an exporter?
India’s transition from being an electronics importer to an exporter has been driven by several key factors. One of the primary drivers is the government’s proactive policies and initiatives, such as the Make in India campaign and the PLI scheme. These initiatives have significantly boosted local manufacturing by providing financial incentives, simplifying regulations, and creating a favourable business environment.
Additionally, the establishment of electronics manufacturing clusters and special economic zones has provided the necessary infrastructure and support for large-scale production.
Another crucial factor is the increasing investment in research and development and innovation within the electronics sector. Indian companies have been focusing on developing cutting-edge technologies and high-quality products that meet global standards. This focus on innovation, coupled with a skilled workforce and competitive labour costs, has enabled India to produce electronics that are not only cost-effective but also technologically advanced. As a result, Indian electronics manufacturers have been able to tap into international markets, leading to a significant increase in exports.
Could you provide an overview of the scope, eligibility criteria, and incentives of the PLI Scheme for electronic manufacturing in India?
The Production Linked Incentive (PLI) Scheme for electronic manufacturing in India aims to boost domestic production and attract large-scale investments in the sector. The scheme covers various segments, including mobile phones and specified electronic components, such as Assembly, Testing, Marking, and Packaging units. By providing financial incentives, the PLI scheme seeks to create a robust manufacturing ecosystem that can compete globally and reduce India’s dependence on imports.
Eligibility for the PLI scheme is determined based on several criteria. Companies must be engaged in the manufacturing of eligible electronic products and demonstrate incremental sales over a defined base year. The scheme is open to both domestic and foreign companies, encouraging a diverse range of participants.
Additionally, applicants must meet specific investment thresholds and production targets to qualify for the incentives, ensuring that only committed and capable manufacturers benefit from the scheme.
The incentives under the PLI scheme are designed to reward incremental sales of goods manufactured in India. Eligible companies can receive incentives ranging from 4% to 6% on their incremental sales over the base year for five years. This financial support is intended to offset the disabilities faced by the domestic electronics manufacturing sector, such as high costs of finance and inadequate infrastructure. By providing these incentives, the PLI scheme aims to enhance the competitiveness of Indian manufacturers and position India as a global hub for electronics production.
