Chinese Mobile Makers Commit Major Investment in ‘Make in India’ Initiative
In a fillip to Prime Minister Narendra Modi’s ambitious ‘Make in India’ initiative, over 100 top Chinese handset and component manufacturers gathered in New Delhi on Wednesday in what could bring $2-$3 billion investment in Indian mobile manufacturing operations in the next two years.
Top officials from major Chinese companies such as Techno, Gionee, Coolpad, Holitech, Wingtech, Camera King, Galaxy Core, Poxiao, Vivo and Sprocomm participated in the first-ever summit titled “China-India Mobile Phone & Component Manufacturing Summit,” in the Capital to explore avenues to tap the existing and emerging opportunities.
Leading Indian mobile companies such as Micromax, Lava, Karbonn, Spice, Vodafone and Intex also participated in the day-long event, the organisers said in a statement.
“Going by the encouraging response of Chinese companies and definitive joint collaboration talks between the Indian and Chinese mobile and handset manufacturers, Chinese investment of $2-$3 billion (roughly Rs. 13,360 crores – Rs. 20,040 crores) over the next two years looks like a real possibility along with employment for one-two lakh people”, said Pankaj Mohindroo, national president, Indian Cellular Association (ICA).
The first-of-its-kind summit has been jointly organised by the ICA, the apex body representing the mobile handset and components industry in India, and Mobile World (Shoujibao), China’s leading mobile industry service platform.
According to Mohindroo, Chinese companies are usually reluctant to set up a manufacturing base in other countries as their own eco-system is highly efficient and supremely productive.
Read full article: NDTV
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