The said JV Company will file necessary applications with the Ministry of Communications or any other nodal agency to avail benefits under the PLI Scheme of Government of India. Post execution of mutually acceptable agreements by the parties, the JV Company will be 74% owned by Dixon & 26% owned by Bharti Enterprises.
“We are delighted and encouraged by the trust they have bestowed on Dixon for this collaboration. We see them as our ideal long-term strategic partner who shares our core values: focus on quality, engineering prowess, innovation and customer satisfaction & we intend to leverage each other’s strengths to manufacture telecom and networking products. We are confident that this is just the beginning of a long and prolific association & there is immense potential to further build on our shared capabilities to deliver sustainable growth,” Saurabh Gupta, CFO, Dixon Technologies said in a joint statement.
Deven Khanna, Group Director, Bharti Enterprises said that Telecommunications sector has played a pivotal role in facilitating growth of the economy and is a key enabler of digital connectivity and Digital India. “With Dixon’s excellent track record in manufacturing industry & Bharti’s deep expertise in Telecom, this venture will be well positioned to be a key player in its space.”
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