Xiaomi pushing for smartphone component suppliers to invest in India

Xiaomi проводит глобальную распродажу смартфонов и ноутбуков

Soon after the commencement of its first Supplier Investment Summit in India today, the Chinese manufacturer announced three new smartphone manufacturing plants in India.

That said, Xiaomi is hosting more than 50 smartphone component suppliers at the ongoing Supplier Investment Summit, and, if all of these suppliers invest in India, it would bring in an investment of ₹15,000 Crores in the country, which is around $2.5 Billion American Dollars.

"We are committed to manufacturing in India".

Xiaomi is gearing up to establish new manufacturing units in Tamil Nadu and Andhra Pradesh. The component suppliers will be visiting the states of Uttar Pradesh and Andhra Pradesh to explore and learn about investment opportunities in India, incentives offered by Center and State governments, FDI policy, industrial policy and various state sector specific policies.

Xiaomi, which is among the top smartphone players in India, started assembly of smartphones in India in 2015 and had two manufacturing units in partnership with Foxconn.

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The company didn't share the investment figures for these new facilities. The company will set up these plants in partnership with Foxconn that will be located at Siri City (AP) and Sriperumbudur (TN). The fact that Xiaomi will be making PCBAs locally in the days to come - in fact, the company says it has already started with the manufacturing - means a critical portion of all Xiaomi phones will be locally made in India. These facilities employ almost 10,000 workers, 95 per cent of whom are women. PCBA is one of the most important components of the smartphone, and contributes to almost 50% of the value of the phone.

Xiaomi today announced the opening of three more smartphone manufacturing plants in India, at the ongoing Xiaomi Supplier Investment Summit Event. The company's first smartphone plant was built in partnership with Foxconn in 2015, followed by its second plant in March 2017, and its first power bank plant (in partnership with Hipad Technologies) in November 2017. We believe that this will help our suppliers assess and expand the manufacturing base in the country. Modi wants to turn India into a global manufacturing hub in a bid to boost job growth in Asia's third-largest economy.

Xiaomi manufactures 95% of the phones it sells in India locally and its embrace of Prime Minister Narendra Modi's "Make in India" program have helped it avoid import tariffs that have restricted global rivals.

"We are starting an SMT line for PCB assembly. one of the key challenges that the Indian electronics industry faces is that the local value addition is about 10% of the industry".

The new factories will also result in an increased production capacity of two smartphones per second - as opposed to the earlier one smartphone per second - during operational hours, Xiaomi added.

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