In the latest episode of The Digital India Podcast, host Mohd Ujaley, Editorial Director, Tech Observer Magazine spoke with Madhav Sheth, one of the most prominent figures in India’s smartphone industry. Best known for his leadership at Realme, where he helped establish the brand as a household name, Sheth is now leading NxtQuantum Shift Technologies. His latest venture introduces the Ai+ smartphone powered by the newly developed NxtQuantum OS.
Reflecting on his past journey, Sheth underlined that building strong brands requires more than marketing. “Supply chain and R&D are the real foundations,” he said, stressing that global players such as Chinese, Japanese and American companies succeeded by investing deeply in design, intellectual property and long-term research. According to him, white labelling alone cannot provide sustainable growth for Indian brands.
On his new venture, Sheth explained that Ai+ smartphones will be guided by values such as transparency, democratisation and localisation. “Consumers should know how their data is being used. Benefits should remain within India, not flow outside as royalties,” he said. He also highlighted the importance of developing a domestic component ecosystem, pointing out that chipsets, displays, cameras and fabrication account for more than half the value of a smartphone. “The ecosystem follows the brand. If strong brands are built in India, suppliers will invest locally,” he observed.
Discussing India’s policy environment, Sheth acknowledged initiatives such as the Production Linked Incentive (PLI) scheme and the ESDM policy, but reminded listeners that building an electronics manufacturing base takes decades. He cited Vietnam, Japan and China as examples where transformation unfolded over 30 to 50 years. For India, he argued, industry players must complement government intent with long-term investments.
Sheth also shared that his company aims to target the sub-₹10,000 smartphone segment, which makes up nearly 60% of the Indian market. With a goal of selling two million devices within six months, he believes scale is critical for competitiveness. Ultimately, his ambition is to create a global brand rooted in India supported by patient capital and deep R&D.
