Xiaomi's component supplier to invest $200 mn in India to boost local manufacturing

By Anuj Sharma - August 6, 2018
xiaomi
The move comes shortly after Xiaomi India organised a first of its kind global Supplier Investment Summit in April 2018. The objective of this summit was to encourage its top 50 global suppliers to lo....

Xiaomi today announced its key component supplier Holitech Technology will start component manufacturing in India. Holitech Technology has signed a MoU with the state of Andhra Pradesh and will start local manufacturing in the city of Tirupati for Xiaomi.

The move comes shortly after Xiaomi India organised a first of its kind global Supplier Investment Summit in April 2018. The objective of this summit was to encourage its top 50 global suppliers to locally manufacture in India.

Holitech Technology would be investing nearly $200 million over three years in the country and would be the first manufacturer in India manufacturing Compact Camera Modules (CCM), Thin Film Transistor (TFT), Capacitive Touch Screen module (CTP), Flexible Printed Circuits (FPC), and fingerprint sensor locally. The local manufacturing is likely to start in the first quarter of 2019 and aims to generate 6,000 jobs in three years.

“Andhra Pradesh is one of the youngest pioneering states of India. The state has a young entrepreneurial spirit and poses an attractive destination for similar minded companies. Our state of the art infrastructural offerings make Andhra Pradesh an exciting investment opportunity and it is heartening to see Holitech Technology come to the state and initiate a big revolution in the market for local manufacturing,” said Nara Lokesh, Honorable Minister of Information Technology.

The state of Andhra Pradesh has extended several incentives for the establishment of the manufacturing plants in terms of tax, land and power subsidy along with several other incentives.

 “Xiaomi has witnessed significant growth in the country and we are positive that Holitech’s plans for India will set a new motion in place for the electronics manufacturing industry in India. Holitech is an important global component supplier of Xiaomi and with their entry in India, we are positive that a new era of local manufacturing will begin with several job creations and other component manufacturers also coming in,” added Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India.

As a brand dedicated to the cause of Make in India, we are proud to be leading this initiative from the front for the entire nation and hope everyone can make best specs, highest quality products accessible to the country at honest pricing, said Jain.

“We are pleased to bring several industry firsts to the state of Andhra Pradesh with the manufacturing of camera modules, TFT, CTP, FPC and fingerprint sensors and high quality clean room construction and take propel the growth of component manufacturing in India. We hope to further boost this initiative by setting an example for other component manufacturers, and being a part of Xiaomi’s growth in India,” emphasised Flame Chen, Co-Founder and CEO, Holitech Technology.

Founded in 2004, Holitech majorly produces Liquid Crystal Displays, Liquid Crystal Display Modules, Touch Screens, Fingerprint recognition, Smart Wearable Products, intelligent Vehicle Products, Intelligent Micro Controller, Intelligent TLI/TFT Modules, Embedded Display Modules etc.

 

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