With government stern positioning to Make in India as an export hub, HMD Global, the company behind the resurrection of the brand Nokia has plans to support it further with making India as its manufacturing hub.
In the latest announcement, HMD Global has shared plans to work with Indian contract manufacturers to produce its upcoming portfolio and offerings first in India.
HMD global has also reportedly said to offer its portfolio first in India and thereafter to export it across the world.
Not to forget to expand its business in India, HMD Global has lately bagged $230 million investment from Google and Qualcomm.
A top HMD Global executive reportedly said that the company will employ local contract manufacturers, along with Qualcomm and Google to make low-cost 4G and 5G smartphones in the future. And Nokia is only the second such brand to do it. Qualcomm also announced a similar partnership with Reliance Jio last month.
Other smartphone giants are also eyeing towards the Indian market and its one of the biggest manufacturing unit. The names include, Apple, Samsung, Oppo, these companies are said to take the benefits from the recent PLI scheme.
Major technology and electronics companies are looking at India as a sweet-spot for manufacturing, boosting further, India has launched an Rs. 50,000 crores ($6.65 billion) to boost electronics manufacturing.
While stating on the PLI scheme, Minister of Electronics and IT Ravi Shankar Prasad said, Five Indian firms would also be selected for the PLI scheme, which, along with two other related initiatives, could help India produce smartphones and components worth Rs. 10 lakh crores ($133 billion) by 2025.