Xiaomi says pushing for smartphone component suppliers to invest in India
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MUMBAI (Reuters) - China's Xiaomi said it wants its global smartphone component manufacturers to create a base in India, potentially bringing an investment of up to $ 2.5 billion to a South Asian country and creating up to 50,000 jobs.
This step can lead to the fact that the flagship of the "Make in India" Prime Minister Narandra Modi. Modi wants to turn India into a global manufacturing center to increase employment growth in Asia's third largest economy.
In New Delhi, there is a road map for increasing the local assembly of smartphones, and last week it announced a 10 percent duty on importing key components of the smartphone, including populated PCBs, as part of the plan.
Xiaomi, which had an unsuccessful Korean competitor Samsung Electronics, who took pole position in the smartphone market in India, placed 50 of its global suppliers in New Delhi at an investment summit on Monday, which also brought together key Indian officials.
If all 50 suppliers were to create a store in India, it would bring 2.5 billion dollars of investment and create up to 50,000 jobs, Xiaomi said.
Xiaomi itself now has six factories producing smartphones in India, China's largest market.