Lava to shift from China to India
In an impetus to Prime Minister Narendra Modi’s Local ...
In an impetus to Prime Minister Narendra Modi’s Local ke liye Vocal call, domestic brand Lava in May announced the shifting of its entire mobile R&D, design and manufacturing for the export market from China to India within next six months, announcing to invest overall nearly Rs 800 crore in due course of time.
Lava exports over 33 per cent of its phones to markets such as Mexico, Africa, Southeast Asia and West Asia. As part of the transition, Lava will invest around Rs 80 crore this year and subsequently around Rs 800 crore over the next five years. The move came after the Indian mobile phone manufacturers gained a significant cost advantage over China from the Production Linked Incentive Scheme (PLI) scheme announced by the Government last month, the company said in a statement.