Signify Strengthens India Ties with Local Manufacturing

New 50-50 joint venture aims to enhance production control and supply chain

On the surface, today’s announcement is straightforward. Signify, the global lighting giant, has struck a deal with India’s Dixon Technologies to manufacture LED lighting products locally. The move, executives said, was about “manufacturing excellence” and supporting India’s domestic market.

But in the background, a broader shift is underway.

For years, India has been a promising but peripheral player in Signify’s financial landscape — an enormous market of 1.4 billion people, yet not currently among the top revenue drivers. The company’s biggest markets remain the U.S., the Netherlands, China, and Germany. For context, #4 Germany contributed €347 million to Signify’s €6.1 billion in revenue last year. The U.S.? A commanding €2.1 billion ($2.27 billion USD). India didn’t crack the top four. So why the sudden move to establish a 50-50 joint venture there?

The Dixon Deal: A Strategic Expansion in India

Dixon Technologies isn’t just another manufacturing partner. According to Signify, they are a major player in India’s contract manufacturing sector, producing everything from LED lights to mobile phones and consumer electronics for some of the biggest brands in the world. By partnering with Dixon, Signify gains immediate access to a company with deep expertise in high-volume production, strong supply chain relationships, and a track record of navigating India’s manufacturing landscape.

The joint venture — which is pending regulatory approvals — will focus on producing a broad range of lighting products, including LED bulbs, downlights, battens, spotlights, strips, and accessories. Both companies will hold a 50% equity stake, signaling a long-term commitment rather than a simple supplier agreement.

And while the deal aligns with India’s “Make in India” initiative, it also gives Signify a stronger foothold in a market where local manufacturing is increasingly becoming a competitive necessity.

Now, with Dixon as a partner, it can control more of the production process, potentially lowering costs, improving lead times, and even tailoring products more specifically to local needs.