Dixon Tech, Kaynes, Amber, Syrma jump on mobile PLI 2.0

Global brokerage Macquarie said the scheme favours companies such as Dixon Technologies and Amber Enterprises, with Dixon emerging as the clearest near-term beneficiary. The brokerage added that the framework improves the business case for companies entering additional component manufacturing, including batteries. Macquarie described Amber Enterprises as a "sleeper beneficiary."

Abhinav Tiwari, Research Analyst at Bonanza, said the scheme targets cumulative production of around ₹39 lakh crore and is expected to generate nearly 60,000 direct jobs. Tiwari noted that domestic electronics production has expanded six-fold over the past decade, with mobile phones now accounting for nearly half of India's electronics output. He added that India stands to benefit from the "China+1" sourcing strategy, though import dependence remains high. China supplies more than half of India's electronic components. The new scheme directly targets this gap, he said.

Tiwari said Dixon Technologies is expanding into camera and display module manufacturing, while Kaynes Technology is entering chip packaging and printed circuit board manufacturing. Amber Enterprises and Syrma SGS are expanding their printed circuit board capacities.

The scheme's impact would be reflected in higher levels of domestic manufacturing, supported by recent funding initiatives for component production and customs duty exemptions, Tiwari added.