New Delhi: Handset maker Gionee has signed an agreement with the Haryana government for setting up a manufacturing unit in the state entailing an initial investment of Rs 500 crore.
The manufacturing unit will be set up over around 50 acres in Faridabad and will provide employment to over 28,000 people in the next three years, Gionee said in a statement.
With an annual capacity of close to 30 million units, Gionee plans to manufacture around six lakh mobiles per month from this facility and use it as an export hub in future, it added.
"India is one of our most important markets and Gionee has been seeing an exponential growth here, which will only increase rapidly as time progresses," Gionee Mobiles Chairman Liu Lirong said.
The company sees government policies, availability of skilled manpower and infrastructure support the state provides as other positives.
"Hence, we are confident that our investments and efforts are being made in the right direction," he claimed.
Gionee had entered the Indian market in 2013 and claims to have registered a turnover of Rs 3,250 crore by 2015-end. It plans to almost triple its turnover by the end of this year.
"Keeping in line with our Make in India initiatives, we have taken it a step further from having two facilities to setting up our own manufacturing unit in India. This unit will help us achieve the inventory levels required to take Gionee to the next level of growth," Gionee India CEO and MD Arvind Vohra said.
About 60 percent of Gionee India's devices sold in the country are manufactured locally at facilities run by Foxconn (in Tamil Nadu) and Dixon (in Noida).
Published Date: Sep 16, 2016 05:15 pm | Updated Date: Sep 16, 2016 05:15 pm