Veira Group, a leading name in Indian electronics manufacturing, continues its impressive journey of growth. Managing Director Ankit Maini highlights key milestones such as their capacity to produce 4 million LED TVs annually and partnerships with global giants like Samsung. Veira’s expansion into washing machines, multimedia speakers, and air coolers demonstrates their commitment to delivering high-quality products and achieving substantial market growth.
Read the full interview here:
TimesTech: Veira Group has grown significantly since 1975, especially with your recent expansion to manufacture 4 million LED TVs annually. Can you highlight the key milestones and growth strategies behind this?
Ankit: Our journey since 1975 has been marked by significant milestones, with our most recent being the capacity to manufacture 4 million LED TVs annually. A key achievement that highlights our leadership is becoming the first Indian contract manufacturer to partner with Samsung for their Tizen OS. We’ve already commenced production of Tizen OS-powered smart TVs for Croma, which reinforces our standing in the industry. Additionally, we offer a diverse range of smart TV solutions—including Google TV, webOS, and Coolita—tailored to meet the evolving preferences of our clients. Our growth has always been driven by a commitment to quality and deep, long-term partnerships. In line with this, we’ve expanded our portfolio beyond TVs to include washing machines and air coolers, providing a comprehensive, end-to-end manufacturing solution for both TVs and appliances.
TimesTech: How do trade regulations, tariffs, and geopolitical factors impact your export strategies, and what steps are you taking to navigate these challenges?
Ankit: Trade regulations, tariffs, and geopolitical factors do impact our raw material sourcing, particularly as we rely on imported components for our manufacturing operations in India. However, with over 40 years of experience, Veira has established strong, strategic relationships with our global suppliers. This enables us to mitigate these challenges effectively while maintaining a focus on quality, operational efficiency, and cost competitiveness in the Indian market.
TimesTech: What are your thoughts on the ‘China plus one’ strategy, and how is Veira positioning itself in this changing landscape?
Ankit: The ‘China plus one’ strategy is a necessary move to diversify supply chains and reduce over-dependence on China. At Veira, we’ve already started sourcing certain components from alternative markets like Taiwan and Southeast Asia, which helps mitigate supply chain risks. However, for critical components like display fabs and semiconductor chips, China remains a key supplier due to limited global alternatives. That said, we’re optimistic about India’s growing focus on local semiconductor manufacturing.
TimesTech: Can you discuss Veira’s partnership with Coolita OS and how it’s shaping a new smart TV ecosystem in India?
Ankit: Veira’s partnership with Coolita OS has played a pivotal role in shaping a new smart TV ecosystem in India. Coolita, a Linux-based operating system, offers a seamless, user-friendly interface that significantly enhances accessibility and ease of use. We have been manufacturing Coolita-powered TVs for leading brands, with screen sizes ranging from 32″ to 55″. This collaboration enables us to deliver high-quality, affordable smart TVs that cater to the diverse preferences of the Indian market.
TimesTech: With plans to double your turnover to 2000 crores, what key strategies will drive this growth, and how do you see the market supporting it?
Ankit: To reach our ambitious goal, Veira is strategically aligning with key market trends, particularly Premiumization. As consumers increasingly demand superior visual quality and larger screens, we are committed to developing ultra-premium and highly interactive products that cater to these preferences. Our recent expansion into washing machines and air coolers further reinforces our market presence & also broadens our product portfolio. With our enhanced manufacturing capabilities, we are poised to scale production efficiently, drive substantial growth, and achieve our revenue targets.
TimesTech: What led to Veira’s diversification into products like multimedia speakers and washing machines, and how do you see these contributing to future growth?
Ankit: Our strategic diversification into multimedia speakers and washing machines was a response to the surging demand for high-quality electronics in India. Recognizing a market gap for premium yet competitively priced products, we leveraged our established reputation for excellence and consistency in the TV industry to expand into these new categories. Our long-standing relationships with leading brands and the growing consumer appetite for these products strategically position us to seize new opportunities and drive future growth.
