Lava Feels This Is Right Time To Invest In India For Manufacturing | SupportBiz

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Lava Feels This Is Right Time To Invest In India For Manufacturing

 
In India, Lava sells close to 3 million units every month in India, along with 1 million in countries like Nepal, Bangladesh, Sri Lanka, Thailand and Russia.

New Delhi: Responding to the ‘Make In India’ campaign by Prime Minister Narendra Modi, home grown smartphone player Lava International has acted quickly and will manufacture smartphones in India from next financial year.

“We are very passionate with the Prime Minister’s Vision of ‘Make In India’, and we as a company want to play a role in this vision by starting the manufacturing of our smartphones locally in the month of March 2015. We will be launching Lava smartphone in the range of Rs 5,000-15,000,” said Hari Om Rai, Chairman & MD, Lava International during the launch of iris Fuel 60 smartphone.

The smartphones will be assembled at its Noida-based facility, which is spread across in 1,00,000 square feet. To begin with Lava will first start the assembling process, and later it will ramp up to complete manufacturing facility including tooling, SMT, painting and other areas in the second phase.

The company intends to shift its manufacturing of smartphones both Lava and Xolo from China to India in a phased manner. It is planning to invest Rs. 500 Crores on this initiative in next 2-3 years

He also said that the company was in talks with Nokia on buying the the production plant in China. “We are under NDA, however the talks are going on with the Nokia,” he said.

“Electronics is a very important sector for China, in China. About $1 Trillion worth of electronics being consumed by world, the total consumption of electronics products in the world is $1.8 trillion, of which Trillion dollar is getting manufactured by China. As we speak, China is having problem in getting the labors to get the job done, as the economy of the country is booming.

Hence, its a right time to invest in India in manufacturing and become a 40% net exporter of electronics products in next 10 years.” Other Than Noida, the company will also set up its manufacturing facility in northern parts of India. Lava is looking to start of with the production of 10,000 units.