70% of boAt products are now manufactured in India, according to cofounder Aman Gupta.
At a time when firms and the Indian government are striving to increase local production, boAt cofounder and chief marketing officer Aman Gupta has stated that by 2023, 70% of the audio gadget giant's goods would be created in India.
Ankush Pandey
According to boAt CMO Aman Gupta, prior to Covid, 0% of its goods were manufactured in India, but today 70% of boAt products are manufactured in India.
According to Gupta, India's manufacturing ecosystem is fast expanding, but continued success will require the collaborative efforts of the government and stakeholders.
Gupta went to X (then Twitter) in January of this year to declare that the wearables startup will produce 1 million goods in India by 2022.
"Prior to Covid, 0% of our products were manufactured in India." By 2023, 70% of our products will be manufactured in India," Gupta remarked at Inc42's 'The D2C Summit 4.0.'
Cofounder was speaking with The Moms Co cofounder Mohit Sadaani at a session titled 'The Rhythm Of Success - How boAt Scaled To Become A $1.4 Bn Audio & Wearable Brand'.
When discussing the manufacturing ecosystem during the early phases of boAt, Gupta stated that there was no support for making audio devices in India at the time. As a result, boAt founders Gupta and Sameer Mehta were forced to establish a product team in China to manufacture and import items.
Gupta, on the other hand, stated that the scenario is swiftly changing.
"If you look at how the government is opening up the semiconductor business in India, how it is focusing on certain sections... Right now, not everything is manufactured in India, but as the saying goes, Rome was not built in a day. "India will take time, and everyone is working hard," Gupta said of the country's industrial prospects.
Following the Covid-19 epidemic and the border standoff between India and China since 2020, boAt has been focusing on establishing manufacturing facilities in India to improve supply chain speed and agility, according to Gupta.
Earlier this year, the CMO of boAt went to X (then Twitter) to declare that the wearables startup will produce 1 million goods in India by 2022. According to Gupta, this figure will reach 1.5 billion by June 2023.
BoAt produces its goods in India in collaboration with players such as Dixon.
In June of this year, the D2C electronics brand said that its net sales increased to roughly INR 4,000 Cr (about $500 Mn) for fiscal year 2022-23 (FY23), indicating a 39% increase from INR 2,872.9 Cr in FY22.
