Domestic mobile phone maker Intex will invest Rs. 1,000 crores to set up a manufacturing facility at Greater Noida in Uttar Pradesh as it looks to end dependence on imports to meet its demand.
The facility, spread over 2 million square feet area, would
be ready in three years and will have a capacity to produce 35 million phones.
It will also produce LED televisions, washing machines, and other computer
peripherals
The company believes in promoting manufacturing in India and
is making about a million phones per month, Intex Technologies Head,
Manufacturing, Amitabh Khurana told PTI.
In India, Intex has four manufacturing facilities - two in
Jammu, one each at Baddi (Himachal Pradesh) and Noida (UP). "The current
emphasis on 'Make in India' campaign is a step in the right direction to make
India an economic superpower. Intex already has a sizeable manufacturing base
in the country and going forward there are aggressive plans to consolidate the
manufacturing activities even further," Khurana said.
Intex has been manufacturing in India since 2001. Apart from
manufacturing, the company will invest Rs. 500 crores in research and
development over the next few years. The firm is aiming two-fold growth in
revenue to Rs. 8,000 crores in the current financial year with 85 percent of it
coming from mobile division.
The company closed 2014-15 with a turnover of Rs. 4,000
crores and about 75 percent revenue came from mobile division. Consumer
durables and IT products accounted for the rest. "Intex has shown robust
performance in mobile phones market during the past one year and has surpassed
competition in last three months vis-a-vis shipments and local manufacturing
(combined)," Intex Technologies Head Mobile Business Sanjay Kalirona said.
India is one of the fastest-growing smart phone markets
globally and is expected to replace the US as the second largest market by
2017, as people switch to smart phones from feature phones and gradually
upgrade to 4G-enabled phones.
In the April-June 2015 quarter, smart phone shipment in
India grew 44 percent to 26.5 million units from the year-ago period, as per
research firm IDC.
Source:http://gadgets.ndtv.com/mobiles/news/intex-to-set-up-rs-1000-crore-manufacturing-facility-in-greater-noida-748168
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By this investment hope it creates the path for more employment opportunities.
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