Managing Director of Xiaomi India, Manu Kumar Jain has just stated that the Chinese smartphone and electronics maker Xiaomi is already planning to increase the number of manufacturing plants in India. According to the information by Jain, the company is currently in active discussions with tow other partners for multiple components thought nothing is finalized yet . This expansion is in a bid to support the growth of the company in the country, especially in the smartphone segment. The company wants to team up with local component providers in order to further deduct the prices of its products in addition to chopping off the time it takes for the devices to be ready for sale by reducing the go-to-market time . Also Read - Xiaomi Redmi Note 10 series in works, may ship with 22.5W fast charger in the boxAlso Read - Redmi K30S with Qualcomm Snapdragon 865 SoC, triple rear cameras launched
According to a detailed report by The Economic Times, it is likely that the company wants to launch its entire component ecosystem partners to India. This effort comes months after the company brought over 50 of its supply chain partners from China and Taiwan to India so that they could evaluate any possibility of setting up a local production of the equipment. As previously reported, the component makers visited Uttar Pradesh and Andhra Pradesh for possible investment opportunities. Also Read - Redmi K30S could be a Xiaomi Mi 10T with a new name, suggest leaks
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According to the report, the company claimed that there supply chain partners could potentially invest $2.5 billion in India in the coming years. This amounts to about Rs 15,000 crore and it may result in about 50,000 jobs. At the end of the effort, Holitech Group, one of the major component suppliers for Xiaomi is already setting up a 75-acre manufacturing facility in the Tirupati area in Andhra Pradesh along with an investment of about Rs 1,400 crore in next three years.
This facility will make camera module, TFT, touch screen panel, flexible printed circuit, and fingerprint modules for the company. Xiaomi has already established six manufacturing facilities in the country for smartphones along with one dedicated to power banks.