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In line with the Government of India's "Make in India" initiative, Optiemus Infracom Limited, a leading Indian telecom enterprise and Wistron Corp., Taiwan's leading Original Design Manufacturer (ODM), have announced a joint venture (JV) agreement, in presence of Amitabh Kant, IAS Secretary - DIPP, Government of India, to set up manufacturing facilities for telecom products in India.
Over the next five years, the partners will strategically invest approximately $200 million in best in class infrastructure, technologies and processes, to cater to growing Indian and global demands of telecom products viz, smart phones, tablets and smart devices. The JV targets to create over 15,000 employment opportunities in India, over the next five years.
The partnership aims to provide a complete end to end solution to global and Indian brands encompassing world class manufacturing infrastructure, distribution, retail and after sales. By offering a bouquet of services under one roof will make it an unparalleled proposition in the country.
Ravinder Zutshi, Managing Director, Optiemus Infracom Limited, said “It is a matter of great pride for us to actively contribute to the growing manufacturing ecosystem in the country. With this partnership, we are committed to make available world class technology products at affordable prices for global and local brands. Embarking on this new journey, we intend to emerge as one of the top three third party manufacturers in the country in the next five years. Our collective expertise in design, manufacturing, distribution, retail and after sales services will provide a holistic solution for brands in India.”
Robert Hwang, president and COO, Wistron, "We are excited to enter the world's fastest growing smartphone market with our partner, Optiemus Infracom Limited. We are confident that by leveraging each other's strengths, we will be able to bring innovation and value at a faster pace to the end consumers. With our extensive expertise in the global ICT sector and our partner's unique local market understanding, we plan to significantly grow and nurture the Indian technology market."
By 2017, India is expected to overtake USA to be the second largest smartphone market globally, as per research firm IDC. The market is expected to continue to grow in double-digits over the next few years as more and more people switch to smartphones and gradually upgrade to 4G-enabled phones.