[India MSME Summit 2021] How COVID-19 has brought electronics and hardware companies closer to their customers
Amid the COVID-19 pandemic, businesses quickly turned to working from home to continue operations. It has become the new standard for most businesses around the world.
As businesses adjust to the new normal amid a global economic slump, electronics companies have reported an increase in their sales figures. And the reason for the increase in sales was simple: People needed the equipment to work from home more than ever.
During Your story third annual India MSME Summit 2021, Rohit Nandwani, COO of Hammer, Mandeep Arora, co-founder of UBON, and Gaurav Khatri, co-founder of Noise, during a panel discussion, decoded what the increase in the number of people working from home meant for India’s electronics and hardware industry.
Bringing businesses closer to customers
According to Gaurav, over the past year his company has grown closer to its customers. Rohit and Mandeep agreed, saying they had to go the extra mile to figure out what consumers want as most people now work from home.
Rohit pointed out that the demand for audio products has increased dramatically. Mandeep, on the other hand, said that UBON had to increase the production of data cables and chargers “by a lot”.
Noise’s co-founder testified that his team members conduct Zoom calls with their clients to understand their needs. He said, “As we interacted with our customers, we realized that they wanted products of impeccable sound quality. “
In 2020, Gaurav’s Noise company was forced to produce audio products with noise cancellation (external), dual mic, etc. “We are focused on providing products with better call quality in the future. “
The Make in India approach
Before the pandemic, the electronics market was heavily dependent on China. One of the trends that emerged strongly in the midst of COVID-19 was how India was forced to seek solutions in its backyard.
According to Mandeep, the pandemic has driven India’s electronics and computer hardware industry rapidly by five years.
Rohit also pointed out that before the pandemic hit, companies were not exploring Indian manufacturers much. “We have followed the lead of the tech giants. Like others, we believe that China provides economies of scale, so let’s import components from there, ”he added.
He said the Indian electronics market is gradually shifting from setting up simple assembly lines to developing a full ecosystem of local manufacturers and suppliers.
Gaurav stressed that India must move forward with a “Make in India” approach, adding, “We have realized over the past year that you need to put in the time and effort in manufacturing. “
The government should roll out policies that encourage the purchase of electronics from India itself, Mandeep added.