Entrusted manufacturer Dixon has signed a memorandum of understanding with Bharti Enterprises Ltd to establish a joint venture to apply for the Government of India’s Production Linked Incentive (PLI) scheme for the manufacture of telecom and networking products. According to a release shared by the two companies, Dixon’s wholly owned subsidiary, Dixon Electro Appliances Private Limited, or any other company identified by the parties, will become a joint venture to manufacture telecom and networking products such as modems, routers and set-top boxes. Undertake, for telecommunications sector / industry including Airtel, such as IOT devices. The JV Company will submit the required application to the Ministry of Communications or other node agencies to take advantage of the benefits under the Government of India’s PLI scheme. After the parties enter into a mutually acceptable agreement, the JV Company will be owned by Dixon (74%) and Bharti Enterprises (26%).
On this occasion, Saurabh Gupta, CFO of Dixon Technologies, said: “We are delighted to partner with the iconic brand Bharti. We are delighted and encouraged by the trust they have given Dixon for this collaboration. We have quality and engineering capabilities. Focusing on innovation and customer satisfaction, we consider it an ideal long-term strategic partner to share the core values of leveraging each other’s strengths to manufacture telecom and networking products. This is a long and prolific partner. We are convinced that this is just the beginning of a successful association, and there is great potential to further strengthen our shared capacity to achieve sustainable growth. “
Deven Khana, Group Director of Bharti Enterprises, said: The telecommunications sector plays a vital role in driving economic growth and is a key driver of digital connectivity and digital India. With Dixon’s outstanding track record in manufacturing and Balti’s deep expertise in telecom, the venture will establish itself as a major player in the field. “
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Dixon and Bharti Enterprises establish joint venture to manufacture telecom and network products
Source link Dixon and Bharti Enterprises establish joint venture to manufacture telecom and network products