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Dixon Technologies, a contract manufacturer in electronic goods, on Wednesday said it has entered into a pact with Bharti Enterprises to form a joint venture to manufacture of telecom and networking products.
"Dixon has entered into memorandum of understanding (MOU) with Bharti Enterprises to form a joint venture (JV), the company said in a regulatory filing.
Dixon said its wholly-owned subsidiary- Dixon Electro Appliances or any other company identified by the parties will be the JV company which will undertake manufacturing of telecom and networking products like modems, routers, set top boxes, IOT devices, etc for the telecom sector/industry including Airtel.
"The said JV company will file necessary applications with the Ministry of Communications or any other nodal agency to avail benefits under the PLI Scheme of Government of India," Dixon said.
As per Dixon, post execution of mutually acceptable agreements by the parties, the JV company will be 74 per cent owned by Dixon and 26 per cent by Bharti Enterprises.
(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.)
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First Published: Wed, April 07 2021. 11:20 IST