Page 4 - Padget Electronics News Today

Dixon Technologies shares gained 9.54% to a record high of Rs 6034.75 against the previous close of Rs 5,508.90. At 2:35 pm, the Dixon Technologies stock was trading 7.92% higher at Rs 5935.10 on BSE.

Homegrown Dixon Technologies' subsidiary Padget Electronics will manufacture Xiaomi smartphones at its new Noida factory that has been set with Rs 256 crore investment, it said on Thursday.The factory was inaugurated by IT Minister Ashwini ...

PLI Scheme: He said it is “highly encouraging” to see the development of the design and component manufacturing ecosystem in India. Vaishnaw cited that domestic value addition is increasing day-by-day and in some products, “it is as high as 60%”.

The factory was inaugurated by IT Minister Ashwini Vaishnaw which is likely to generate around 5,000 new jobs. The manufacturing facility has an annual production capacity of 25 million units.

Padget Electronics, a wholly owned subsidiary of Dixon Technologies inaugurated a new smartphone manufacturing facility in Noida in the presence of Union Minister of Electronics and IT, Ashwini Vaishnaw. The newly inaugurated factory has already commenced production of smartphones for Xiaomi India in the September quarter.

Dixon said in a statement that Padget has commenced smartphone manufacturing for Xiaomi in Q3 2023.

"Serious design capability is getting developed in India. This will benefit the country. The electronics component base is being developed in the country. In the coming 3-4 years we will have a similar situation like mobile phones. Like we have become a mobile exporter. We will become component exporters as well," Vaishnaw said.

“In any industry, there is a need for critical mass. Dixon has already crossed that. They were the first ones to do so. Others are also moving in that direction,” Vaishnaw said. This comes after ET reported Thursday that the government is becoming increasingly concerned about Chinese mobile phone brands negligible share in exports, despite cornering nearly three-fourths of the domestic market.

“This (electronics manufacturing industry) is a growth sector, growing at double-digit CAGR (compounded annual growth rate). Everyone will get opportunities. I encourage every company to Make in India, I encourage every company to export from India,” Vaishnaw said at the inauguration of a new smartphone manufacturing facility by Dixon-subsidiary Padget Electronics.

Homegrown Dixon Technologies' subsidiary Padget Electronics will manufacture Xiaomi smartphones at its new Noida factory that has been set with Rs 256 crore investment, it said on Thursday.The factory was inaugurated by IT Minister Ashwini ...