Xiaomi today announced that it would be organising a Supplier Investment Summit in India from April 9th to April 11. The summit will be hosted with up to 50+ Xiaomi component suppliers from around the world who will visit different states learning about the opportunities in India. Xiaomi says that India is an important market for it outside of China and is also a major manufacturing hub and for the same reason, it is giving a chance for the suppliers to visit different states to evaluate opportunities for setting up local base in the country. This will not only bring in additional foreign investment in India but will also create job opportunities. The primary agenda of this summit is to help the suppliers understand about opportunities in the Indian market, incentives offered by Center and State government, FDI policy, industrial policy and various state sector-specific policies. Xiaomi currently has three manufacturing facilities in India of which two facilities are in partnership with FOXCONN which are present in Sri City, Andhra Pradesh. These two manufacturing facilities are dedicated to manufacturing smartphones. The company says that more than 95% of Xiaomi's smartphones sold in India are being manufactured locally and the production capacity is 1 smartphone per second during operational hours. ...
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