According to sources the Chinese Smartphone maker Xiaomi had announced the opening of three more Smartphone plants in India along with the company's first Surface Mount Technology (SMT) plant in Chennai that will manufacture printed circuit board assembly (PCBA) units in the country.
Meanwhile when announcing this at the first-ever "Supplier Investment Summit" being held in the Capital, Manu Jain, Vice President, Xiaomi Global and Managing Director, Xiaomi India said that Xiaomi is one of the pioneers in the country to start local assembly of PCBA. Previously the government imposed a 10% tax on imports of key Smartphone components, including PCBs. Furthermore the three new Smartphone plants in partnership with Foxconn are located across campuses in Sri City, Andhra Pradesh and a new campus in Sriperumbudur, Tamilnadu.
Earlier the three day summit was attended by over
50 global Smartphone component suppliers, with the aim of helping them set up
local manufacturing units in the country. Further the company said
"If all the suppliers set base in India, this would potentially bring in
an added investment of over Rs 15,000 crore and create 50,000 job
opportunities. Moreover the summit was inaugurated by Amitabh Kant, CEO, Niti
Aayog; Ramesh Abhishek, Secretary, DIPP and Deepak Bagla, CEO, Invest
Moscow welcomes North Koreas Kim Jong Un declaration on halting nuclear tests Moscow sources reported that the Russian foreign ministry said in a statement that "They welcome the declaration of the Working Party's Chairman Kim Jong Un on the halt of the Democratic People's Republic of Korea's nuclear and missile tests from April 21”. The statement said. "We consider the given decision an important step towards the future easing of tensions in the Korean peninsula”.
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