Ravi Shankar Prasad To Meet Electronics Makers To Draw Investment To India

Union minister for information technology and electronics Ravi Shankar Prasad will meet leaders from smartphone and consumer electronics companies to draw out a roadmap to boost manufacturing in India and make the country an export hub.

The day-long meeting on Monday will be attended by at least 50 corporate leaders, including chief executives of Samsung, Xiaomi and OPPO, and contract manufacturers such as Flex.

Chinese mobile phone makers, which dominate smartphone sales, have already lined up huge investments in the India market.

Top smartphone seller Xiaomi, which had one manufacturing unit in India in 2015, now operates seven facilities. Last year, the company also hosted global component suppliers for a three-day tour of Uttar Pradesh and Andhra Pradesh to explore investment opportunities and to set up a local components ecosystem.

Vivo plans to spend Rs. 7,500 crore to expand its manufacturing capacity not only to cater to the Indian market, but also for exports.

Last month, OnePlus announced an investment of Rs. 1,000 crore for a research and development facility in Hyderabad. The centre will drive its research in artificial intelligence and machine learning to develop upgraded products.―Livemint