Xiaomi announced that it will be organizing a Supplier Investment Summit in India from April 9, 2018 to April 11, 2018. The summit will host 50+ Xiaomi component suppliers from around the world who will visit different states learning about opportunities in India.
India is the most important market for Xiaomi outside Mainland China and a major manufacturing hub today, hence, the suppliers will be visiting different states to evaluate opportunities for setting up local base in the country. This will not only bring in additional foreign investment in India, but will also create a pool of job opportunities.
The agenda of this summit is to help them understand about opportunities in the India market, incentives offered by Center and State government, FDI policy, industrial policy and various state sector specific policies.
Currently, Xiaomi has three manufacturing facilities in India. The two facilities in partnership with FOXCONN are in Sri City, Andhra Pradesh and are dedicated to manufacturing smartphones. Today, more than 95% of Xiaomi’s smartphones sold in India are manufactured locally and the production capacity is 1 smartphone/second during operational hours. Additionally, the recently opened unit in Noida, Uttar Pradesh in partnership with Hipad Technologies manufactures power banks for Xiaomi India.