OPPO to invest USD 60 mn under 'Vihaan' initiative to boost smartphone industry in India

Representational image. Pic/iStock

Smartphone giant OPPO India on Friday launched a new initiative -- Vihaan -- to empower small-to-medium enterprises (SMEs) and micro, small and medium enterprises (MSMEs) to amplify their operations and, in turn, strengthen the local supply chain for a robust smartphone eco-system in the country.

Under this programme, the company said it will invest $60 million in the next 5 years.

"The forward-looking, industry-friendly policies of the Indian Government have created an enabling environment which nurtures and promotes innovation, unleashing the electronics manufacturing industry," Vivek Vasishtha, Vice-President, Public Affairs, OPPO India, said in a statement.

"With a robust local supply chain getting established, the time is right for promoting exports of our quality 'Make in India' smartphones to identified markets. This would facilitate OPPO India in expanding the export capacity to $5 billion over the next five years," he added.

OPPO India said it has already invested heavily to enhance the country's manufacturing prowess, which has made the company a leader in 'Make in India' smartphone shipments with 22 per cent year-on-year growth in the first quarter of 2022, as per a Counterpoint Research report.

Also read: Apple saw a doubling of revenues in India in Q2, with sales of 1.2 mn iPhones: Tim Cook

"In tandem with the government's vision of an 'Aatmanirbhar Bharat', OPPO India will be strongly supporting local manufacturing and exports, SMEs and MSMEs, cutting-edge technologies, and skill development in the sector through the 'Vihaan' programme," Vasishtha said.

OPPO India aims to partner with more local suppliers to strengthen the local supply chain for a robust smartphone ecosystem in India.

The company has collaborated with the government and industry in encouraging around 30 Tier-1 suppliers to set up operations in India.

They have employed tens of thousands of Indian locals contributing to developing the electronics industry and enhancing India's stature in the global value chains.

In the next 5 years, the company said it will be focussing on initiating the development of next-gen technologies such as AI, 5G etc., to accelerate the product development process from India, empowering and mentoring technology start-ups end-to-end, and exploring collaborations with educational institutions to nurture the innovation culture.

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