Electronics Repair

INTRODUCTION

With increasing per capita disposable income and private consumption, India has emerged as one of the largest markets for electronic products in the world. The electronics market valued at INR 8,500 billion in 2019-20 is segmented as Mobile Phones (24%), Consumer Electronics (22%), Strategic Electronics (12%), Computer Hardware (7%), LEDs (2%), and Industrial Electronics (34%) comprising of Auto, Medical and other industrial electronic products. With markets being flooded with a wide variety of electronic products, there is a huge need for servicing and maintenance of these products, thereby creating a robust market for the electronic repair industry in India.

MARKET POTENTIAL

Electronic equipment repair services, a fast-growing business globally, can generate revenues of INR 74 billion annually in India and has the potential to create one million direct jobs in the next five years (2021-2026). Electronic Repair Service is set to gain momentum in coming years, given the rising demand for electronic products like laptops, mobile phones, television sets, etc. in rural areas. The domestic electronic devices market in India is estimated to reach INR 30,000 billion by 2025.

FUNDING SOURCE

Under the “Work 4 Progress” program of the Development Alternatives Group, such enterprises have been financed by SKS Microfinance (a Micro Finance Institution) and Sankalp Swashakti Mahila Mandal (a Cluster Level Federation) through a micro-credit facility, with an average loan size of INR 45,000.