BenQ India expects half of its revenue from India-made products by 2027

New Delhi, Apr 15 (PTI) Benq, a leading Taiwan-based display solutions provider, is boosting its 'make-in-India' portfolio and expects almost half of its India revenue to come from locally manufactured products, its India and South Asia Managing Director Rajeev Singh said.
    BenQ, which started selling made-in-India monitors earlier this year, expects that nearly half of the monitors sold in India will be domestically manufactured over the next three years.
    The company, which will complete its 25 years in India in 2026, expects to cross Rs 1,000 crore in sales and is gradually increasing the number of 'Make in India' models in segments like monitors, projectors and interactive flat panels through its local OEM partners.
    Currently, BenQ gets about Rs 300 crore from 'Make in India' products across categories, including monitors, projectors, interactive large-format displays, mobile computing devices and lighting solutions.
    "We are looking at close to Rs 500 crore from Make in India products by next year. By 2027, almost half of our revenue will come from locally manufactured products," Singh said.
    The company on Wednesday launched a new addition to its MA Series for Apple and Mac users, expanding its premium portfolio.
    Singh said product innovation and customer upgrades are driving growth, even as IDC has indicated a potential short-term dip in the monitor industry this year.
    BenQ, which derives nearly one-third of its India revenue from monitors, is targeting 35 per cent growth in 2026 despite the overall market being flat.
    "We have been growing at over 30 per cent for the last three years. Going forward, we see even higher growth, especially in the high-end monitor segment," Singh said.
    The growth in the monitor segment is driven by two main factors - product development and customers going for an upgrade.
    When asked about the 'make-in-India' monitors being manufactured at Tirupati by a third-party manufacturer, Singh said, "Definitely in the first year it should be around 50,000, next year double at least, should be a lakh plus".
    After this, BenQ plans to increase the number of monitor models manufactured locally.
    Benq India's projector business contributes another one-third from its sales, where it leads in the home segment market.
    "In the projector industry, we are the only brand driving the Make in India initiative. Today, almost half of our projector portfolio is already manufactured domestically," Singh said.
    The company, a pioneer in the smart classroom projects, being implemented by various schools run by the Indian government and several state governments, has done close to 4 lakh classrooms in India, which is more than 50 per cent of the total base of schools in India.
    When asked about its plans to set up any unit in India, Benq President APAC region Jeffrey Liang said this is done by its parent entity Qisda Corporation, which is a global leading ODM/OEM service provider of electronic products for consumer, commercial, medical, and industrial applications.
    "They are still in the exploratory phase (for setting up a plant in India."
    Liang further said Indian consumers have also evolved and are becoming value-conscious, from being price-conscious.
    "So, that is something because we really provide value and a very unique product to them. People really appreciate it," said Liang.

(This story has not been edited by THE WEEK and is auto-generated from PTI)