Electronic repair market could be worth $20 billion

Ajai Chowdhry, founder of technology services firm HCL and chairman of the Electronic Products Innovation Consortium (EPIC) Foundation, said the market for electronics refurbishment and repair services is growing. “The smartphone repair market alone is estimated to be worth $10 billion annually,” he said, adding that in total, the electronics repair market could account for $20 billion. .

Chowdhry added that the first steps have been taken to formalize the repair industry, including Flipkart’s acquisition of refurbishment and repair services startup Yantra in January this year. While examples are still limited, services such as Onsite-Go and Urban Company have begun offering at-home repair services for smartphones, laptops, and other common gadgets. In fact, Onsite-Go also offers Annual Maintenance Contracts (AMC) for consumer gadget service and repair.

Industry group Information Technology Manufacturers Association (Mait) presented the benefits of these services to IT Minister Ashwini Vaishnaw on September 7th. Mait’s honorary president, Nitin Kunkolienker, said that incentivizing local manufacturing of components could be important for such services to grow.

“One of the key aspects in promoting the repair service economy in our country is ensuring that components are sourced locally, but this has not been done extensively so far. We have a robust supply chain that serves a variety of industries, allowing us to diversify to source and manufacture components that are critical to the growth of the local repair economy,” said Kunkolienker.

Meanwhile, Nitin Gupta, chief executive of e-waste recycling company Attero India, said the amount of e-waste the company collects and recycles each year is clearly increasing, but these actions Advantages here in India.

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