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(Source: The Financial Express)

Chinese boost to Make in India: Xiaomi’s component supplier Holitech to invest Rs 1,400 crore in this state

China’s Holitech Group today said it will set up a production facility in Tirupati, Andhra Pradesh, with an investment of Rs 1,400 crore (USD 200 million) to supply mobile phone components like camera modules and touch panels to smartphone major Xiaomi.

Spread over 75 acre, the facility is expected to be operational in the first quarter of 2019, providing employment to about 6,000 people at full-scale in the next three years.

“We will set up the plant in two phases with phase I starting in January where we will invest USD 100 million and phase II, an additional USD 100 million. The facility will cater exclusively to Xiaomi,”

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