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Muralikrishnan B, president of Xiaomi in India, said that the company is not looking at any joint venture with any Indian firm

Chinese mobile phone manufacturer Xiaomi has said it will not pursue the joint-venture solutions used in India by its peers. President Muralikrishnan B said the firm was looking to remain a 100% subsidiary of its Chinese parent, amid speculation of an Indian joint venture, especially as some of its contract manufacturers enjoy incentives from the government.

Wearables manufacturing in the country is going from strength to strength, in a big boost for the government’s ‘Make in India’ initiative. And this is proving

Designed to boost India’s manufacturing capabilities and exports, the production-linked incentive scheme has had a tepid beginning. Things might begin to change in FY24, with economic activity predicted to normalise

The surge in wearables manufacturing in India is impacting Chinese assembly lines adversely, with many factories in that country facing a sharply reduced order book, several industry executives ET spoke to have said.

Top wearables brands such as Boat and Gizmore are making most products locally in key categories audio and smartwatch through electronics contract manufacturers such as Dixon Technologies and Optiemus Electronics, several industry executives ET spoke to have said.

A round-up of top newspaper stories to keep you ahead of others.

Wearables Production: Top wearables brands such as Boat and Gizmore are making most products locally in key categories audio and smartwatch through electronics contract manufacturers such as Dixon Technologies and Optiemus Electronics, the people added.

Little by little, India is chipping away at the Great Wall. Last week, research firms raised their 2024 forecast for wearable device shipments from India on account of the exponential increase in demand and fall in average selling prices. Part of the reason companies can maintain a low price is because they are ramping up local assembly of products, a move that is costing China. This and more in todays ETtech Top 5.

Indian Wearable Brands: As per IDC, India-based smaller players who cumulatively hold >15% share are further lowering the overall average selling prices (ASPs). The ASP was at Rs 1,800 ($22.7) in 1Q23 compared to Rs 2,400 ($29.5) in 1Q22.