In a world where technology is rapidly evolving, India is making significant strides in the smart wearables sector. The recent joint venture between Amber Enterprises and Noise is a testament to this growth. This collaboration aims to elevate the manufacturing of smart wearables in the country, marking a significant step towards the ‘Make in India’ initiative. Let’s delve deeper into this exciting partnership and understand its potential impact on the Indian market.
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The Joint Venture:
Homegrown brand Noise, known for its connected lifestyle products, recently announced its collaboration with Il Jin Electronics, a subsidiary of Amber Enterprises India Ltd. This partnership is not just about manufacturing; it’s about nurturing the entire smart wearable ecosystem in India. Noise, which already manufactures over 95% of its products in the country, is taking a step further by localizing component manufacturing.
Amit Khatri, Co-founder of Noise, expressed his enthusiasm about the venture, stating, “This partnership is more than just business. It’s about leveraging our combined expertise to enhance domestic manufacturing, fuel category expansion, and stimulate growth across the ecosystem.” Such sentiments reflect the human touch and commitment behind this collaboration.
Why This Matters:
According to Counterpoint Research, Noise has made a significant mark on the global stage. The brand witnessed an impressive 86% YoY growth in the second quarter of this year. A whopping 98% of their total shipments comprised products priced under $50. Furthermore, Noise ranks among the top three smartwatch brands globally, as per Counterpoint.
Jasbir Singh, Chairman, and CEO of Amber Enterprises India, highlighted the broader vision behind this partnership. He mentioned, “Our goal is to create a world-class local ecosystem for wearables and other smart electronic products. This is our contribution to the larger ‘Make in India’ initiative.”
Beyond the Numbers:
While the statistics are impressive, the real story lies in the potential impact of this joint venture on the Indian market. This collaboration is expected to:
- Strengthen India’s Manufacturing Capabilities: With a focus on enhancing local value addition, the partnership will prioritize quality while developing in-house infrastructure for product assembly, hardware design, and component manufacturing.
- Boost the ‘Make in India’ Initiative: This venture aligns perfectly with the government’s vision of making India a global manufacturing hub. It’s not just about producing wearables; it’s about producing world-class wearables that can compete on the global stage.
- Empower the Indian Consumer: As more products are manufactured locally, Indian consumers can expect high-quality wearables at competitive prices. This will also lead to more job opportunities and technological advancements in the country.
The joint venture between Amber Enterprises and Noise is more than just a business collaboration. It’s a vision for a technologically advanced India. As we move forward, such partnerships will play a crucial role in shaping the country’s technological landscape. For now, all eyes are on Amber Enterprises and Noise as they embark on this exciting journey.
Sources:
https://www.financialexpress.com/
