J.P. Morgan sees strong EMS growth driven by Make in India, China+1 shift, and rising electronics production demand.

• Initiates Syrma, Dixon, Kaynes at "overweight", expecting 32% revenue CAGR through FY25-30E on robust industry tailwinds.
• Highlights OSAT and PCB manufacturing as key growth areas, with exports seen as the next major opportunity.
• SYRM, DIXO, and KAYN shares gain up to 3.1% following a bullish outlook and rising investor confidence.