Oppo to invest $60 million under ‘Vihaan’ initiative to boost smartphone industry in India

Under this program, the company said it would invest $60 million over the next 5 years.

“The Government of India’s forward-looking, industry-friendly policies have created an enabling environment that fosters innovation and fosters the electronics manufacturing industry,” Vivek Vashisht, Vice President (Public Affairs), Oppo India, said in a statement.

“With a strong local supply chain established, the time is right to boost exports of our quality ‘Make in India’ smartphones to the identified markets. This will help Oppo India to increase its export potential to $5 billion over the next five years. would be convenient.” He added.

Oppo India said it has already invested heavily to enhance the manufacturing prowess of the country, which has made the company a leader in ‘Make in India’ smartphone shipments with a year-on-year growth of 22 per cent in the first quarter of 2022 . Counterpoint Research Report.

“In line with the government’s vision of ‘Self-reliant India’, Oppo India will strongly support local manufacturing and exports, SMEs and MSMEs, state-of-the-art technologies and skill development in the sector through the ‘Vihaan’ programme,” said Vashisht. ,

Oppo India aims to partner with more local suppliers to strengthen the local supply chain for a strong smartphone ecosystem in India.

The company has collaborated with the government and industry to encourage around 30 Tier-1 suppliers to set up operations in India.

They have given employment to thousands of Indian local people contributing to the growth of the electronics industry and increasing India’s stature in the global value chain.

Over the next 5 years, the company said it will focus on accelerating the product development process from India, ushering in development of next-gen technologies like AI, 5G etc. to empower and mentor technology start-ups. end, and exploring collaborations with academic institutions to nurture innovation culture.

Disclaimer: This story is auto-aggregated by a computer program and is not created or edited by FreshersLIVE.Publisher : IANS-media

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