This Fiscal Dixon Technologies Expects to Bring in Rs. 19,000 Crore
Dixon Technologies‘ stock increased by more than 9% on December 1 in response to the opening of a smartphone production facility in Noida.
According to an exchange filing on November 30, Dixon Technologies subsidiary Padget Electronics has established a smartphone manufacturing facility in Noida, Uttar Pradesh, and has begun producing smartphones for global technology giant Xiaomi.
The Noida plant can produce 25 million units annually and is spread across 2.7 lac square feet. According to the notification, the plant is a major step forward for India’s efforts to increase its share of domestic smartphone manufacturing.
The stock of Dixon Technology has returned 41.04 percent during the previous six months.
During the same period, the benchmark Nifty50 index has returned 8.90 percent.
It’s a significant step in the direction of our mission to strengthen India’s domestic smartphone manufacturing sector. Sunil Vachani, executive chairman of Dixon Technologies, stated at the opening ceremony, “We believe that this association will leverage our excellence and superior execution and Xiaomi’s expertise and leadership in the Indian business ecosystem.”
What India IT minister says after Dixon Expansion plan?
At the new Dixon facilities, complex manufacturing has been observed. This is answer to those who says India only assembles Smartphone and does not manufacture them.
The Minister of Information Technology also acknowledged India’s rise to Smartphone Hub Manufacturer.
In India, phones are produced in more than 99% of cases.
According to IT Minister Vaishnaw, 99.2% of the nation’s mobile phones are produced domestically.
He told reporters, “The mobile manufacturing industry has crossed $44 billion worth,” following his tour of the Tata iPhone plant in Hosur, Tamil Nadu.
By2025–2026, India hopes to produce electronic goods valued at over $300 billion, and the minister stated that programs and subsidies are in place to support the manufacturers.
This Fiscal Dixon Technologies Expects to Bring in Rs. 19,000 Crore
Insightful piece
Excellent write-up