Gionee inks MoU with Haryana Government to set up manufacturing hub in Faridabad
The Gionee India has signed a Memorandum of Understanding (MoU) with the Haryana government to set up its phone manufacturing hub in Faridabad.
The MoU was signed by Gionee Mobiles Chairman Liu Lirong and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) in presence of Chief Minister Manohar Lal Khattar.
Key Facts
- The hub would be set up with an initial investment of Rs. 500 crore over an area of 40-50 acres in Faridabad. It would provide employment to 28,000 people in next 3 years.
- This unit will Gionee Mobiles to achieve the inventory levels required to take it to the next level of growth.
- Gionee Mobiles had chosen Haryana for its manufacturing hub due factors such as great government policies, availability of skilled manpower and infrastructure support.
Gionee had entered the Indian market in 2013. It has already reached a turnover of 3,250 crore rupees by end of 2015. About 60% of its devices sold in the country are manufactured locally at facilities run by Dixon (in Noida) and Foxconn (in Tamil Nadu).
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Month: Current Affairs - September, 2016