The Indian consumer electronics market isn't just growing - it's getting unpredictable with AI! With wallets getting fatter and smartphones becoming smarter than some of us (no offense intended), this playground is getting more exciting with AI.

This document summarizes the learnings from the episode. We've packed it with the initial steps you need to know about finding the right product and building the brand.

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The guests talked about international trade, identifying the gaps in the market in early 2000s, differentiating the product, integration of AI in smart glasses, building a strong supply chain and much more!

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Rahul Sharma | Micromax

💻Manufacturer of Electronics and Home Appliances

Carl Pei | Nothing

📱Specialises in Smartphones and accessories

Amit Khatri | Noise

⌚Mid-range Wearables

1. Dissect the product: Strip it down 🔍

• First identify: which product you are willing to sell and why.
• Then strip it down! Know every component of the product.
• Find a viable source for those products.
• It should solve everyday problems. Find those gaps!

- Some ideas guests discussed: 🦻🏻🕶

• • Affordable hearing aid
• • Wearables for the aging population
• • Smartwatches for kids
• • Batteries with thermal control

2. Know your core! 🎯

• Is this product your strength? Do it only if it is. This will make you resilient in hard times!
• Is the product in high demand? Is it a stagnant market like laptops or an evolving market like smart glasses?
• Innovate more if the product is mature in the market. (Like Amit did for his smartwatches)
• Analyse the trends, consumer preferences, gaps, affordability, innovation, and differentiators.

3. Know the legal and regulatory compliances: 🧑🏻‍💼

• Registering the business and having all documents at your disposal.
• Taxation and GST: Contact that CA friend and figure out the GST registration, Professional Tax, or Import-Export Code if you plan to import components (don't, build yours in India as Nikhil says)
• Certificates: Is it meeting Indian safety standards? Wireless Planning and Coordination approval from the Department of Telecommunications. E-Waste Management authorization, IP Protection, Labeling and Packaging Rules, ISO certifications for quality management.

4. Visit a lot of factories! 👩🏻‍🏭

• Will you manufacture locally or import components?
• Opportunity: There are very less Indian component manufacturers. So crack this market with a Joint Venture (as Rahul says!)
• Leverage all the government schemes like Product Linked Incentives, Design Linked Incentives, etc.
• The GoI has pushed pretty hard for schemes that promote self-sufficiency in the manufacturing sector- so explore all of them!
• Build relationships with reliable suppliers and plan for potential supply chain disruptions.

5. Build, brand, and market on the top of your key differentiation: 🚀

• After your R&D on hardware and software, write down one thing that people will recognize your product with. (eg- One can spot Nothing with its Glyph lights and slick design)
• Use a multi-channel approach: combine e-commerce, retail, and regional distributors to maximize reach.
• Invest in making content out of it as a founder (like Carl emphasizes!)