iPhone to expand business in India under PM Modi’s “Atmanirbhar Bharat”
Prime Minister Narendra Modi’s initiative Atmanirbhar Bharat to make India a hub for electronics manufacturing has got a new boost. Wistron Corp of Taiwan has entered a partnership with Optiemus Electronics to expand the production of electronics like laptops and smartphones.
In a regulatory filing, Optiemus said it has “signed an MoU on a Strategic Partnership to form a unique alliance to strengthen the ties with the $30 billion Taiwan Headquartered Wistron Corporation’s Indian subsidiary Wistron Infocomm Manufacturing (India) to manufacture mobile devices, IT hardware and Automotive- EV products.”
The alliance is headed towards the manufacturing of smartphones, tablets, laptops, wearable devices, telecom products, IoT, Industrial IoT, and automotive EV products. Both companies are also working towards setting up a joint hub for Design Solutions Product Development in India along with bringing manufacturing to the country.
Under the deal, Wistron and Optiemus are set to invest approximately $200 million to bolster electronic manufacturing in India in the next three to five years. Revenues through this partnership0 are expected to yield INR 38,000 crore for Optiemus. Furthermore, the company plans on hiring 11,000 workers for two plants in New Delhi outskirts.
“Wistron wants to grow its footprint in India, Optiemus wants to leverage the government initiatives (in electronics manufacturing)… so it makes sense to come together from a win-win point of view,” Optiemus managing director A Gururaj.
Optiemus Electronics Limited shares on Tuesday was trading 4.98% higher at ₹148.65 apiece on BSE.
In 2015, Wistron entered India by acquiring a minority equity stake in Optiemus in a partnership of assembling devices for brands such as Taiwan’s HTC and South Korea’s LG. In 2017, Wistron started assembling iPhones in a small plant in Bengaluru. Since then it has expanded to a much bigger factory in Karnataka’s Narasapura industrial area. Apart from being a leading Apple supplier, Wistron also manufactures laptops for Dell, Xiaomi, Acer, and Intel-based servers.