Homegrown television manufacturer Videotex International will be investing Rs. 100 crore in setting up a new TV manufacturing plant in Greater Noida in Delhi’s NCR. While its current plants have a capacity of 1.4 million units, the company said that the new plant will increase its manufacturing capacity to 3.2 million TVs.
Further, the company also said that it will be hiring new employees to meet the expanded manufacturing capacity which includes back office staff, along with those on the manufacturing floor and more.
Videotex at present manufactures televisions for companies like Realme, Hisense, Toshiba, Lloyd, Hyundai and over 15 more brands in the country. It is also the exclusive licence holder for manufacturing TVs that run on South Korean LG’s webOS operating system.
“Electronic contract manufacturing in India is projected to grow by over six-fold by 2025. The increased duty on imports of finished products has given a strong boost to local manufacturing and assembly in India,” said Arjun Bajaaj, Director of Videotex. “This move has led to an encouraging response to domestic production. Currently many brands do not have the manufacturing set up in India, a duty leverage inclines several TV manufacturers to look for trusted and reputed local partners with strong experience and expertise to meet their requirement,” he added.
Videotex along with SPPL, and Radiant are amongst the largest TV manufacturing firms in India, alongside Dixon Technologies, which has a larger manufacturing portfolio that includes smartphones, laptops and more.