Indian manufacturing powerhouse Dixon Technologies (India) Limited has inked a significant 50:50 joint venture (JV) with Signify Innovations India Limited, a global leader in lighting. This strategic alliance aims to supercharge India’s lighting manufacturing capabilities and deepen Dixon’s footprint in the nation’s booming lighting sector.
The new JV company will focus on Original Equipment Manufacturing (OEM) of a diverse range of lighting products and accessories for both the Indian and international markets. This includes popular items like LED bulbs, downlights, spots, battens, ropes, strips, and various LED lighting accessories.
“Aligned to the government’s Make in India vision, this proposed joint venture with Dixon Technologies will create a world-class manufacturing company that combines the technology leadership, pricing, and offerings to the customers,” stated Mr. Sumit Joshi, MD and CEO, Signify Innovations India.
He emphasized that combining Signify’s “unparalleled understanding of lighting technologies and Dixon’s manufacturing excellence” will lead to the production of “high-quality competitive lighting products in India.”
Mr. Atul B Lall, Vice Chairman and Managing Director, Dixon Technologies India Ltd., expressed his enthusiasm for the collaboration. “It gives us immense pleasure to partner with Signify India, the leader in the lighting segment,” he said.
“We see them as an ideal strategic partner that shares our core values of quality, innovation, manufacturing prowess, and customer centricity. We believe this proposed association will bolster our operational efficiency backed by Signify’s process orientation and strong understanding of lighting technologies.”
Industry experts are optimistic about the JV’s impact on India’s lighting sector. Saurabh Gupta, CFO of Dixon Technologies, indicated that this partnership is projected to boost Dixon’s lighting segment revenue from the current ₹800 crore to ₹2,000 crore within the next couple of years.
“This JV becomes an extended manufacturing arm for Signify,” Gupta explained. “Initially, we will focus on the consumer lighting business and then expand into professional lighting. Given global geopolitical tailwinds, we see strong export potential in the next couple of years.”
The collaboration also aligns with the Indian government’s Production-Linked Incentive (PLI) scheme for electronics components, designed to boost domestic manufacturing. Dixon Technologies already benefits from this scheme, and the JV is expected to further leverage these incentives.
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