📊Executive Summary

India's top electronics companies are shifting focus from low-margin assemblies to high-margin components, driven by slim profits and government incentives. The five leading firms, including Tata Electronics and Dixon Technologies, are expected to increase acquisitions of niche companies to enhance profitability. In FY26, these companies generated ₹1.22 trillion ($13.6 billion) in revenue but faced a net profit margin of only 1.3%. Analysts predict a growth of at least 30% in revenue for FY26. This strategic pivot towards acquisitions is seen as a way to regain shareholder confidence after a mixed performance in 2025, with 17 acquisitions already announced since April 2025....