Signify To Evaluate Manufacturing Capacity For Global Market

Signify's India market is growing by the day, and the business is considering production capacity in the nation as part of its China Plus-One plan, according to a company official. Signify India has begun to play a key role not only in domestic business but also in assisting our global business grow from India, according to Sumit Joshi, Vice-Chairman and Managing Director of Signify Innovations India.

The Indian market of Signify, formerly known as Philips Lighting, is playing an important part in the design and R&D of Signify's worldwide lighting business, and as an ecosystem for electronic products develops here, the manufacturing opportunities will grow.

"India is a very very important market and I am saying obviously because of the domestic potential which we have... but I also think the role that India could play for the world for Signify is becoming far more important," Joshi told

Asked if Signify is looking as a manufacturing base for other global markets, he said, "Over a period of time, I would want to see that India also starts playing a much bigger role in manufacturing."

"Now with the China Plus One thinking, we are also evaluating as to what role can India play for the world in terms of manufacturing," he said.

The ecosystem necessary for electronics in the next 6-7 years will be significantly more established. Presently, India lacks an ecosystem for critical components such as semiconductors.