The first edition of Viksit Tech 47 report – Building India’s Global Brands in Gadgets, Devices, Appliances and Connected Cars, was released at India Mobile Congress – Viksit Tech 47 spotlight programme. The report was released by Pankaj Mohindroo Chairman ICEA along with industry leaders Sunil Raina, Managing Director, Lava International, Anku Jain, Managing Director, MediaTek India, Nikhil Rajpal, CEO & Founder, Qubo, Himanshu Tandon, CBO, Mivi and other dignitaries. Published to mark IMC’s tenth anniversary, it is the first structured attempt to measure how much of the value India creates in consumer technology is earned by brands that India owns.
Also read: India Mobile Congress 2026 Launches ‘Viksit Tech 47’ Platform
The report identifies 129 homegrown brands across gadgets, devices, appliances and connected cars that together earn more than Rs 60,000 crore a year, an average of only about Rs 465 crore per brand. On their latest reported revenue, only 14 earn more than Rs 500 crore and only two clearly cross Rs 2,000 crore. The contrast with India’s electronics production, which reached Rs 13.11 lakh crore in FY2025-26, shows how much of the value still sits with global brands and contract manufacturers.
Key findings
- Strong growth ahead: At an expected growth rate of about 13 per cent a year, these brands could earn about Rs 1.11 lakh crore by FY2031 and Rs 2.04 lakh crore by FY2036. If Indian brands gain share in smart and connected segments (16 per cent a year), the figures could reach Rs 1.26 lakh crore and Rs 2.65 lakh crore.
- The TAME model: Techarc’s framework describes how brands evolve from Trade to Assemble, Manufacture and Engineer. Typical revenue ceilings are about Rs 500 crore, Rs 5,000 crore and Rs 50,000 crore for the first three stages. Revenues in lakhs of crores come only at the Engineer stage, where a brand owns its design, software and intellectual property.
- Gaps that remain: Domestic value addition in electronics is still about 17 per cent. Indian brands hold a low single-digit share of their home smartphone market, spending on design and R&D is low, and patient capital for hardware is scarce.
- The 2047 ambition: India should aim for 50 brands each earning more than Rs 1 lakh crore by 2047. That is about 83 times today’s base and requires growth of about 25 per cent a year for two decades.
- Two imperatives: India must create new brands built on Indian design and intellectual property, through deep collaboration between startups and academia. It must also identify and nurture promising existing brands at every stage of TAME so they break through their revenue ceilings.
The report also carries leadership perspectives from Sumit Singh of Lava International, Akshay Aggarwal of MediaTek India, Himanshu Tandon of Mivi and Nikhil Rajpal of Qubo.
P Ramakrishna, Chief Executive Officer, India Mobile Congress, said: “A nation that aspires to be Viksit by 2047 must do more than make products for others. It must create, own and scale its own brands, and see them succeed in India and around the world. The ambition this report sets, 50 Indian brands each earning more than Rs 1 lakh crore by 2047, is bold. It is also the kind of ambition this moment calls for.”
Faisal Kawoosa, Chief Analyst and Co-founder, Techarc, said: “Our research identifies 129 homegrown brands that meet a strict test of Indian ownership and consumer electronics focus. Together they earn more than Rs 60,000 crore a year, an average of only about Rs 465 crore per brand. Most of these brands are still at the early stages of their evolution, trading or assembling products rather than engineering them. India’s opportunity, and the purpose of Viksit Tech 47, is to help many more brands make that journey.”
