“The local manufacturing plant is ready. It will be in production by the third quarter of 2019 and aims to generate 6,000 jobs in next three years,” Xiaomi said in the statement.
The plant in Greater Noida, Uttar Pradesh, is spread across four factories over 25,000 sq.m. It will start with a production capacity of more than 300 million components per year.
The Chinese firm plans to invest $200 million in India over three years
Chinese component-maker Holitech Technology has inaugurated its first manufacturing plant in India. The company will invest about $200 million in India over three years to make parts such as compact camera modules, capacitive touch screen modules, thin film transistors, flexible printed circuits, and fingerprint modules.
Holitech was first invited to explore investment opportunities in India by Xiaomi, for whom Holitech is a supplier.
“The State of Uttar Pradesh has extended several incentives for the establishment of the manufacturing plants as per UP Electronics Manufacturing Policy,” the statement added.
Deputy Chief Minister Dinesh Sharma, said: “Uttar Pradesh is one of the youngest pioneering States of India. The State has a young entrepreneurial spirit and poses an attractive destination for similarly minded companies. Our state-of-the-art infrastructural offerings make Uttar Pradesh an exciting investment opportunity and it is heartening to see Holitech Technology come to the State and initiate a big revolution in the market for local manufacturing.”
Muralikrishnan B, chief operating officer, Xiaomi India, said: “Holitech is a leading global component supplier and with its entry into India, we are positive that a new era of local electronics component manufacturing will begin fostering job creation and encourage the entry of other component manufacturers in India.”