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"The company is not looking at the option of a joint venture in India even as some of its Chinese peers, such as those in the auto space like MG Motors and BYD, are eyeing the route to overcome the
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
Prashanth Mani, Executive Director, Asia Pacific, Motorola, said the company doubled its business last year. “In the last five quarters, we've seen every quarter sell-out growth, and this calendar year’s Q1, we have doubled the growth from a sell-in perspective. The market declined by 14%, but we were up 43% year-on-year,” he said.
“…we are investing a lot in the brand again, and you will see our investments increase significantly. We know no Indian consumers are sophisticated, and our products are ready for search growth. India is an important market, and there is no way to achieve our global goals without succeeding in India,” the top executive told ET. He, however, maintained that the brand will remain focused on profitable growth.
Other global manufacturers such as Foxconn (Hon Hai) and Wistron, as well as domestic companies like Dixon Technologies, have already received their incentives for the fiscal year 2022