New Delhi: Client electronics contract maker Videotex Worldwide on Tuesday introduced an funding of over Rs 100 crore and establishing a brand new LED TV manufacturing facility in Higher Noida that may create extra jobs.
With this funding, the corporate mentioned it should improve its present capability to 1.4 million TVs and the brand new capability to 1.8 million TVs – taking the mixed manufacturing capability to three.2 million TVs in a yr.
Arjun Bajaj, Director, Videotex Worldwide, mentioned, “Digital contract manufacturing in India is projected to develop greater than six occasions by 2025. The elevated obligation on import of completed merchandise has given a powerful increase to native manufacturing and meeting in India.”
Videotex has been one of many oldest and largest contract producers (ODM/OEM), and has a “robust curiosity in benefiting from new alternative, with improved expertise and infrastructure in manufacturing sustaining a aggressive place in world markets.”
Between the 2 models, Videotex will add new jobs in keeping with the brand new variations outlined.
This consists of staff in manufacturing models, again workplaces and extra, together with offering new job alternatives for distributors related to the corporate.
The brand new 1,20,000 sq ft sensible manufacturing facility will set up superior manufacturing options and equipment implementing AI/ML applied sciences.
The corporate is manufacturing TVs for main manufacturers like realme, Hisense, Toshiba, Lloyd, Hyundai and greater than 15 main manufacturers in India.
Videotex Worldwide can also be the primary Indian agency to be licensed as a producer of webOS TVs, and has concerned 14 manufacturers to fabricate webOS TVs within the nation.
Quickly, the corporate will announce product enlargement within the Home equipment and Electronics classes.
Bajaj mentioned, “With the establishing of our new manufacturing unit, we strengthen our footprint and take ahead the federal government’s ‘Make in India’ initiative.”