CHENNAI, INDIA – Indian electronics manufacturer Dixon Technologies is expecting to see revenue increase by 12% in the current fiscal year and is considering setting up a plant in Tamil Nadu, according to a top executive.

In an interview with Reuters, Dixon's Managing Director Atul Lall said the company is "seriously considering" investing in Tamil Nadu – the southernmost Indian state – in the next 12-18 months. Dixon currently has factories in three Indian states but not in Tamil Nadu, which is a hub for electronics and automotive manufacturing and is home to major production facilities of Apple suppliers like Foxconn and Pegatron.

Lall's forecast of a 12% growth in sales revenue – to around $1.45 billion – in the company's fiscal year ending in March 2023 would mark a sharp slowdown from 66% growth in the previous financial year. He said revenue from contract manufacturing of telecom devices, smart watches and wireless products like ear buds is likely to grow 15-20%.