Under the ‘Atmanirbhar Bharat’ initiative, Vivo India plans to ship over a million ‘Made in India’ smartphones by 2023
Vivo announced on March 13 that the company plans to export more than 1 million smartphones with the “Made in India” label in 2023. The company mentioned in the second edition of its India Impact Report that in 2022 it sent its first shipment of smartphones labelled as having been “Made in India” to the countries of Thailand and Saudi Arabia.
All you need to know about Vivo India Initiative!
According to the company, Vivo is on track to complete phase I of its proposed investment plan of ₹7,500 crores by the end of 2023. This will allow the company to begin production in its new state-of-the-art manufacturing facility by the beginning of 2024. The plan calls for an investment of ₹7,500 crores overall. Phase I will cost ₹3,500 crores.
Yogendra Sriramula, Head of Brand Strategy, Vivo India, stated in a statement that “Our serious efforts on developing the local value supply chain, manufacturing expansion, and our contribution in bridging the digital divide reinforce our commitment to the India market makes us a formidable force in the Indian smartphone ecosystem.
We have also reaffirmed our unshakeable commitment to India by shipping the first consignment to Thailand and Saudi Arabia, in line with the government of India’s goal of making the country a hub for international exports. We take pride in the fact that we want to export 1 million smartphones by 2023″
In addition, Vivo India has already invested a total of ₹2,400 crores, and it is anticipated that a further ₹1,100 crores will be invested by the end of 2023 in order to expand its production capacity and assist the government’s objective of making India a worldwide export powerhouse.
As part of the initiative known as ‘Atmanirbhar Bharat,’ the company has stated that all of Vivo’s motherboards are assembled in India one hundred percent of the time. Additionally, the company has stated that it sources 95 percent of its battery components and 70 percent of its charger components from within India.
