Xiaomi today announced that it will be organizing a Supplier Investment Summit in India from April 9, 2018, to April 11, 2018. The summit will host 50+ Xiaomi component suppliers from around the world who will visit different states learning about opportunities in India.
India is the second largest market for Xiaomi after Mainland China and is fast becoming a major manufacturing hub for the company, hence, the suppliers will be visiting different states to evaluate opportunities for setting up local base in the country. Through this, Xiaomi aims to bring in additional foreign investment in India as well as create job opportunities.
The agenda of this summit is to help the suppliers understand about opportunities in the India market, incentives offered by Center and State government, FDI policy, industrial policy and various state sector-specific policies.
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Currently, Xiaomi has three manufacturing facilities in India. The two facilities in partnership with FOXCONN are in Sri City, Andhra Pradesh and are dedicated to manufacturing smartphones. Xiaomi claims that more than 95 percent of Xiaomi’s smartphones sold in India are manufactured locally and that the production capacity is 1 smartphone/second during operational hours. Additionally, the recently opened unit in Noida, Uttar Pradesh in partnership with Hipad Technologies manufactures power banks for Xiaomi India.
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