Xiaomi wants component suppliers to invest in India: report
09 Apr 2018
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China’s Xiaomi said it wants its global smartphone component makers to set up base in India, Reuters reported.
According to the report, if Xiaomi's vendors agree, it could lead to investments of $2.5 billion and create up to 50,000 jobs, turning Asia’s third-largest economy into a global manufacturing hub.
Xiaomi has six smartphone manufacturing units in India.
It hosted over 50 of its global suppliers in New Delhi at an investment summit to0day, which was also attended by key government officials.
Reuters quoted Manu Jain, managing director of Xiaomi’s India operations, to say the handset maker, which began assembling smartphones through Foxconn in southern India in 2015, will now assemble parts like memory and processors on printed circuit boards locally.
The report added, Xiaomi has overtaken Korean rival Samsung Electronics to take the top position in India’s smartphone market - the world’s second biggest.
