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Xiaomi calls on global smartphone component makers to invest in India

The hardware set maker believes that this move can bring 150 billion investment and create upto 50,000 jobs in the country

Press Trust of India  |  New Delhi 

Xiaomi
Attendants are silhouetted in front of Xiaomi's logo at a venue for the launch ceremony of Xiaomi's new smart phone Mi Max in Beijing | Photo: Reuters

Handset maker on Monday hosted more than 50 of its global here to showcase opportunities in India, a move that it believes can bring as much as Rs 150 billion (about USD 2.5 billion) in investment and create up to 50,000 jobs in the country.

The Chinese firm has six plants in in partnership with and

It said it sees a lot of opportunities in as it is among the largest markets.

"If these companies (suppliers) choose to invest here, there is an investment opportunity of over Rs 150 billion and can generate employment for over 50,000 people," and said.

He added that if all the suppliers set up base in India, this would lead to one of the biggest ever single investment in the electronic industry.

The suppliers' summit which kicked off today will continue till April 11. The will visit and to explore and learn about investment opportunities in India, including incentives offered by the Centre and state governments, FDI policy, industrial policy and various state sector specific policies.

"The objective of the summit is to educate Xiaomi's global about India's industry and encourage them to establish local bases in the country," Jain said.

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

The company has now set up three new units in and Andhra Pradesh, along with a facility for printed circuit board (PCB) manufacturing in India.

While the company didn't disclose investment details, it said the move will double its in India.

"We had two facilities for earlier. Now we have added three more in Sri City, and Sriperumbudur in These are in partnership with Foxconn," Jain said.

Besides, a small number of phones are also being made in Noida with another partner - Hipad, he added.

These facilities employ over 10,000 people and 95 per cent are women, Jain added.

is also setting up a new PCB assembly unit in Sriperumbudur in partnership with

"We are committed to manufacturing in India. PCB is 50 per cent of the value of a phone... By Q3, all made in India will have PCBs that are locally assembled," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, April 09 2018. 18:10 IST