Global semiconductor revenue jumps 18 pc in 2024: Report
The global semiconductor industry witnessed a strong rebound in 2024, with total revenue reaching $626 billion, an 18.1 per cent increase from the previous year, a report said on Monday.
Locks and Architectural Solutions, a business unit of the Godrej Enterprises Group, has announced that it is targeting to achieve Rs 2,500 crore in revenue by 2028, backed by sustained investments in R&D, innovation, and advanced manufacturing.
“The company remains steadfast in its commitment to the Make in India initiative, leveraging favourable government policies, including the introduction of BIS standards in locks, to further strengthen its leadership in the home safety segment,” said Shyam Motwani, Business Head, Locks & Architectural Solutions, Godrej Enterprises Group during a press conference in Panaji.
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Motwani said the company continues to reinforce its position as India’s most trusted and preferred locks brand, driven by cutting-edge innovation and an expanding digital product portfolio.
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“With evolving safety needs, digital locks have emerged as a key growth driver, now contributing 10 per cent of the business. The segment has witnessed an impressive 45 per cent year-on-year growth, fuelled by increasing adoption among younger consumers who prioritise smart, connected, and design-led safety solutions. Notably, the company’s e-commerce sales have doubled, underscoring its growing dominance in online and quick commerce channels,” he said.
“Today’s consumers prioritise accessibility and convenience, making e-commerce and quick commerce integral to our growth strategy. Our e-commerce business has doubled year-on-year, highlighting the demand for seamless and innovative security solutions,” said Motwani.
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