Different varieties of 4G, 5G and knowledge radio relay antennas for cell phone networks are pictured on a relay mast operated by Vodafone in Berlin, Germany April 8, 2019. REUTERS/Fabrizio Bensch/File Photo
Post execution of mutually acceptable agreements by the events, the JV Company might be 74 p.c owned by Dixon and 26 p.c owned by Bharti Enterprises.
Contract producer Dixon has entered right into a memorandum of understanding with Bharti Enterprises Ltd to type a three way partnership so as to apply for the Indian authorities’s Production Linked Incentive (PLI) scheme for manufacturing of telecom and networking merchandise. According to a launch shared by the 2 firms, Dixon’s wholly owned subsidiary- Dixon Electro Appliances Private Limited or some other Company recognized by the events would be the JV Company and can undertake manufacturing of telecom and networking merchandise like modems, routers, set high bins, IOT gadgets, and extra for the telecom sector/trade together with Airtel. The JV Company will file needed purposes with the Ministry of Communications or some other nodal company to avail advantages underneath the PLI Scheme of the Government of India. Post execution of mutually acceptable agreements by the events, the JV Company might be 74 p.c owned by Dixon and 26 p.c owned by Bharti Enterprises.
Commenting on this event, Saurabh Gupta, CFO of Dixon Technologies mentioned, “it gives us immense pleasure that we have partnered with Bharti which is an iconic brand. We are delighted and encouraged by the trust they have bestowed on Dixon for this collaboration. We see them as our ideal long-term strategic partner who shares our core values: focus on quality, engineering prowess, innovation and customer satisfaction & we intend to leverage each other’s strengths to manufacture telecom and networking products. We are confident that this is just the beginning of a long and prolific association & there is immense potential to further build on our shared capabilities to deliver sustainable growth.”
Mr. Deven Khanna, Group Director, Bharti Enterprises mentioned, “We are pleased to join hands with Dixon Group to strengthen India’s electronics manufacturing sector & to contribute to government’s vision of an Atmanirbhar Bharat. Telecommunications sector has played a pivotal role in facilitating growth of the economy and is a key enabler of digital connectivity and Digital India. With Dixon’s excellent track record in manufacturing industry & Bharti’s deep expertise in Telecom, this venture will be well positioned to be a key player in its space.”
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