Chinese smartphone maker Vivo has revealed plans to invest an additional Rs 3,500 crore to boost its manufacturing capacity in India. This will be in addition to the company's previous investment plan of Rs 4,000 crore, taking its total planned outlay in India to Rs 7,500 crore. A senior executive of the company said that Vivo intends to create 40,000 job opportunities in India over the next 10 years.
"We have been committed to the 'Make in India' right from the beginning and have been manufacturing here for some time. We have seen strong growth in our business in India. We are now looking at investing Rs 7,500 crore, up from Rs 4,000 crore that we had previously announced," Vivo India Director Brand Strategy Nipun Marya told PTI.
"Vivo will contribute not only in form of economic growth and technology, but also towards skilled labour and jobs for the vast talent pool of the nation. Overall, our aim is to create about 40,000 job opportunities over next 10 years," he further said.
Marya, however, did not disclose the time period over which the investment of Rs 7,500 crore would be made in India.
"The expansion of our manufacturing capacity will be done in phases. The first phase will be ready next month that will take our current capacity of 25 million units annually to 33.4 million, and create about 2,700 new job opportunities," Marya said.
Vivo, one of the top five smartphone companies in India, has already invested Rs 400 crore in the country. The company has facilities in Greater Noida. Last year in December, Vivo had said that it will invest Rs 4,000 crore in India over four years and has acquired 169-acre land in the Yamuna Expressway region on the outskirts of the national capital.
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