Avnet, a global technology distributor and solutions provider, will concentrate over the next 3–5 years on working with its suppliers to develop greener and more sustainable solutions and will also expand local warehouse and logistical capabilities, which will ultimately lead to more job opportunities in India, according to a top company executive.
The company, which celebrated its 25th year in India, believes that the Indian market has immense potential. In the last three years, the India market has grown above the industry level.
“For sure, it’s going to be a very important market, especially in my area — South Asia. Additionally, we see a lot of shifts from China to countries such as Vietnam, Thailand, and India. Today, India makes up around 20 per cent of South Asia’s business, which can definitely go up to 25–30 per cent in the future,” noted Tan Aik Hoon, Regional President, South Asia, Korea, Avnet United.
Headquartered in Phoenix, Arizona, USA, Avnet reported a total revenue of $24.3 billion in 2022, of which 44 per cent originated from Asian markets.
Speaking on the ongoing developments in the country, she stated, “We are working on smart air conditioners—a much greener and more sustainable solution. We are also working on expanding local warehouse and logistical capital capabilities, which will create job opportunities locally, and we are collaborating with the local authorities on this aspect.”
Over the past 25 years, Avnet India says that it has helped shape the local semiconductor and electronics industry and supported Indian innovators.
“We are proud to have been a part of India’s journey since 1998. We have helped Indian companies develop products and provide design and engineering services across a range of industries, including automotive, industrial telecommunications, aerospace, and defence. We are committed to continuing to support India’s innovation ecosystem in the years to come,” said Suresh Kamath, Managing Director, Avnet India.
Avnet India offers a wide range of services to support local innovators, including: product design and prototype manufacturing services; component sourcing and supply chain solutions; leveraging its expansive global supplier network by facilitating component sourcing for developers; product value enhancement and life extension services; Testing as a Service (TAAS) extends a range of testing and consulting services through its “Testing as a Service” (TAAS) offering; logistics and fulfilment.
Furthermore, Avnet has one of its seven design labs in Asia in India, where it has invested over $215,000 over the past many years. “This facility serves as a testing service hub for start-ups at a nominal fee, enabling them to refine their solutions for market readiness. The lab accommodates testing for electric vehicle chargers, smart metering, and more,” the company spokesperson said.