外文标题：Chinese handset maker Gionee to invest Rs 300 crore to set up manufacturing unit in India
HYDERABAD: Chinese mobile phone maker Gionee plans to invest $50 million (about Rs 300 crore) in the next two-three years to set up a plant in India that it wants to use for exporting devices to South Asian and African countries.
"We aim to make India a manufacturing hub outside China to cater to demand in African and Saarc countries, including Pakistan, Bangladesh, Sri Lanka and Nepal," Gionee's president William Lu told ET. He added that the company will invest in setting up a research and development centre and local servers along with establishing manufacturing capability in India, the company's biggest market after China.
Gionee has appointed professional services firm EY to advise it on setting up a manufacturing facility. The company is looking at both contrct manufacturing and acquiring an existing unit in the country, said Arvind Vohra, country CEO and manager ing director of Gionee India, who owns 26% in the Indian arm. The handset maker will generate funds internally for expansion plans, he added.
Vohra said the company is targeting a turnover of Rs 6,000 crore in the current fiscal. In order to achieve this, the company plans to invest Rs 225 crore on marketing this year. It will also expand its retail network with 120 exclusive experience stores, up from the current 12 in the country.
good news ..................
Kunal Jha (New Delhi)
not good product as Xiaomi.
That is good news.
Umang Shah (Unknown)
I hope Indian Mobile Manufacturer up their game and make high quality phone at cheaper price.. and start exporting worldwide..
Good move by Gionee and positive response for India's manufacturing initiatives.
success of this company would encourage hundreds of Chinese entrepreneur to come to India.
Internet User (Unknown)
tis wil bring down its cost of production in a longer run
Titto Tripathy (Jaipur)
This is like reversing the trend. Even though the manufacturing cost is low in China. Still the Chinese company decides to open a plant in India.
Bharat Suraiya (Unknown) replies to Titto Tripathy
Proximity to the end-consumer is key in this manufacturing space. They can mobilize product and spare parts faster locally, based on buying trends. In addition, Indian professionals gain valuable experience across the supply chain in the process. It's good for India and Indians, for such FDI to flow in.
DILMANI RAM Sharma (Dehradun)
Let China be out of India...
Ravishankar Bhujanga (Hubli)
By the bye what is the market share of Chinese Hand sets and who would give guarantee that they are free of radioactive substance. Business is good but certainly not at the cost of Health.