Rashmi Rare Earth to manufacture STB for Reliance Jio

Domestic firm Rashmi Rare Earth Limited on Thursday said it will manufacture set-top-boxes for Reliance Jio at its Noida facility.

"Reliance Jio is one of the most valuable brands in India serving customers across all segments and it is heartening to see such prestigious business conglomerates put their faith in domestic companies to support their outsourcing needs and encourage a flow of liquidity across the demography," Sunil Kumar Patwari, CEO of Rashmi Rare Earth Limited said in a statement.

RREL is a home-grown manufacturer with Japanese machines, which can manufacture latest 5G enabled electronic products, the statement said.

It has capacity to make 7 million per annum and looking at the growing demand due to introduction of 5G devices, Patwari said.

"We have decided to increase the capacity to 20 million per annum. We strongly believe in the Make in India movement for which we have put in place top of the line manufacturing equipment that is sourced from the best markets in the world such as Japan and Korea," he said.