China+1 Is a Real Theme in India’s Festive Season
The country’s factory-to-the-world ambitions are being bolstered as China threatens to retreat from the West.
India is gambling on manufacturing.
Photographer: Anindito Mukherjee/BloombergCompanies in India release their September quarter earnings around the Diwali festival, the high season for domestic consumption. No surprise then that this is when analysts run a reality check on the country’s billion-plus shoppers: How many of them took a home loan, ordered a fresh coat of paint, bought a phone? There’s a more pressing question this year: How did Dixon do?
Even last year, stocks like Dixon Technologies (India) Ltd., which makes LED TVs for Samsung Electronics Co., or Amber Enterprises India Ltd., an air-conditioner parts supplier to LG Electronics Inc., were relatively unknown entities. But now there’s a growing excitement around homegrown firms that could one day become just as large and important as the contract manufacturing giant Flex Ltd., formerly Flextronics.