Micromax to invest Rs 300cr in India to set up three manufacturing units

Micromax has announced that it will invest Rs 300 Cr in India in order to set up three manufacturing units in the country, according to a latest report from PTI.

Micromax Canvas Xpress 4G_fonearena-07

The homegrown smartphone maker will use the investment of Rs 300 crore to set up three new manufacturing units in Rajasthan, Telangana and Andhra Pradesh. The latest move to bolster domestic production comes from Micromax to reduce dependence on imports from China. Micromax will have a capacity of about 4 million units, once all the three manufacturing plants become operational. The company will be investing Rs 100 crore each in these three new facilities.

“We have been allotted 20 acres land in Telangana and the civil structure is almost ready. Similarly, in Rajasthan, we have got 25 acres land and construction will start in a few days. Tirupati will also start soon,”

Micromax co-founder Rajesh Agarwal told PTI.

Micromax aims to provide employment to some 3,500 people in each factory. At present, the company has an assembly unit in Rudrapur, Uttarakhand that produces about one million units which accounts for about 30-35 per cent of its requirement and the remaining are imported from China, said the report. Agarwal further said that by 2017 the company will start making batteries and other components in India and eventually export to other markets from India as well.

In October this year, Micromax along with Lava, Celkon and Karbonn announced that they will set up mobile manufacturing hub that is called as Sri Venkateshwara Mobile and Electronics Manufacturing in Tirupati.

Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+