Millenium Electronics, a key player in India's power electronics and home appliances sector, has been a technology pioneer since 2008. As a top OEM supplier, the company operates from a state-of-the-art facility in Parwanoo, Himachal Pradesh. With robust R&D, Millennium aspires to become a global leader through original and customized products. Their corporate vision focuses on building trust and strong customer relationships to enhance their brand and market presence.
Give an overview of your experience in the Electronics industry. What have been your significant milestones?
The electronic industry in India is rapidly advancing, with significant changes and growth. Previously, we imported all mobile phones from China, but now we have a thriving domestic mobile phone manufacturing sector, and semiconductor manufacturing is also gaining momentum. As an electronic industry manufacturer, I've witnessed this rapid evolution, and it's clear that India has the potential for state-of-the-art manufacturing, similar to China.
One of our remarkable achievements is the global preference for Indian inverters over Chinese ones, particularly in African nations. A pivotal milestone for us has been the consistent increase in our turnover since my joining in late 2017. We've doubled our turnover every year since then, a testament to our commitment to diversifying across verticals, developing new technology and features, and expanding our product range. Today, we proudly stand as one of the leading inverter manufacturers in India and abroad.
Take us through your educational journey and prior industry experience.
I pursued my bachelor's in Electronics and Computer Science at Chitkara University, where I gained substantial knowledge in electronics. Given my family's involvement in the electronics business, this educational background provided a strong foundation. My confidence in the industry grew as I combined academic learning with practical experimentation.
Subsequently, I pursued an MBA to enhance my management skills, equipping me for success in business operations. Additionally, I participated in a summer training program focused on AI and electronics at Providence University in Taiwan. This experience broadened my understanding of electronics and chip manufacturing, as I spent three months studying chip fabrication in Taiwan.
What are your current business challenges, and how do you overcome them?
A significant challenge we encounter in our industry is employee retention, especially with the rapid growth and constant evolution of technology. Unlike before when technology changes took place over five to ten years, nowadays, new advancements emerge each year, making it essential to stay ahead. Innovation is key, and we must continually think beyond the conventional to generate unique ideas for success. In particular, the development of CPM and inverters represents the future, and being at the forefront of this technology has positioned us ahead of our competitors. The major challenge lies in being the first to develop and implement these technologies effectively, as it often determines success in our industry.
Tell us about your expertise in the industry and how it aids in the growth of the company.
There has been a steady growth of the company. In recent years, we have notably become one of the largest OEM manufacturers of inverters. Our operations span across multiple verticals, including OEM inverter manufacturing, providing guidance and support for those interested in developing their products through our R&D expertise, and expanding our reach through exports. I'd like to extend an invitation to our international and former domestic clients who may be considering entering the electronic inverter and solar power business. We are here to offer consultation and guidance to help them manufacture high-quality products that meet their needs and standards.
True leadership, in my view, doesn't center around personal recognition but rather on empowering others to lead their teams and collectively drive the company forward
How do you inspire your workforce to perform better? What is your guiding leadership philosophy?
One of the central principles I prioritize is teamwork. I firmly believe that leadership isn't about personal recognition but empowering others to lead their teams and drive the company forward. While individual contributions are important, directing one's energy toward their specific roles contributes to overall team growth. I emphasize that everyone should work collectively towards a common goal, as this leads to greater overall benefits compared to working in isolation on separate tasks.
How do you stay updated with industry advancements and adapt to new technologies?
In the fast-paced industry we operate in, staying updated with the latest advancements is crucial. I prioritize continuous learning by staying informed about global technological developments through research and reading. I apply this knowledge within our company, optimizing our existing resources and working to expand them in India. Moreover, I'm an avid work-related traveler, which exposes me to diverse perspectives and emerging technologies. Meeting professionals from various fields and learning from their experiences helps me adapt to industry changes effectively.
What vision guides your successful business leadership? What advice do you have for aspiring young entrepreneurs?
My vision is clear: I aim to establish our company as a global leader in the solar power and power inverter manufacturing industries. This ambition drives me to work relentlessly on developing innovative technologies to achieve this goal.
Starting young taught me a vital lesson: don't let age or limited resources hinder your vision. Begin anyway. Mistakes in the early stages bring invaluable experience. Don't underestimate yourself; start small if needed. Relationships are key; those you connect with will naturally guide you along the way. Engage in conversations, attend expos, make friends, learn from experts. Knowledge is everywhere; seek it out.
