Micromax, India’s leading handset manufacturer is taking great strides towards its commitment of making the company 100% “Make in India” and with this commitment have inaugurated their newest manufacturing facility in Telangana. The facility was inaugurated by Sri KT Rama Rao, Hon’ble Minister for IT, Panchayat Raj and Municipal Administration & Urban Development along with Sri P Mahendra Reddy, Hon’ble Minister for Transport. Bhagwati Products Ltd. sets up its second manufacturing plant in India, spread across 19 acres for production of mobile handsets, LED TVs, LED Lights etc. for Micromax Brand.
The company announced an initial investment of Rs 100 crore. With the Telangana manufacturing facility has been made operational from scratch in flat six months and is said to have the capacity to manufacture one million mobile phones per month. The facility currently has 700 employees which will be increased to 1000 employees in he next two months and over the period will provide direct employment to 2,000 people and indirect employment to more than 2,000 people.
Mr. K T Rama Rao, Minister for IT, Panchayat Raj and Muncipal Administration & Urban Development, Telangana, said, “Telangana Government strongly believes in the vision of ‘Make in India’ and has always encouraged corporates to establish their factories and R&D centres in the state. We are very happy that Micromax who has been a front runner in demonstrating technological prowess by bringing future disruptions at affordable price points and has chosen Telangana as the destination for setting up its manufacturing facility. We believe this partnership will provide new opportunities to youth of the state and develop an electronics manufacturing ecosystem of global standards in Telangana.”
Micromax is targetting 25 percent growth during 2016-17 which amounts to revenues of Rs. 15,000 crore which is a decent increase from 2015-16 revenue of Rs. 12,000 crore. The company is selling 2.5 million unites per month, Micromax has 14 percent market share.
Commenting on the inauguration, Mr. Rajesh Agarwal, Co-Founder, Micromax, said, “By 2017, we aim to be India’s first and largest indigenous phone manufacturer. We have been the front runners for the ‘Make in India’ initiative, by assembling the products locally and quickly ramping up and building capacity of complete manufacturing in close partnership with the Government. We are grateful for the support of government of Telangana for providing a slew of incentives, provisioning of all approvals and compliances in a time bound manner and providing necessary infrastructure and conducive ecosystem for conduct of business. It is primarily due to the industry friendly approach and forward thinking policies of Government of Telangana, that we could set up the plant here in a record time of six months.
Micromax also announced that they are in plans to shift its R&D center from Beijing to Hyderabad. The Hyderabad plant along with the facility in Uttarakhand will take the overall production to 1.2 million handsets per month and the Rajasthan plant will be operational in six months adding another one million units production in its first phase. The rest of the handsets are being manufactured in China.
