Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Chinese component maker <keyword id="3777162" type="UNKNOWN" weightage="20" keywordseo="Holitech-Technology">Holitech Technology</keyword>, which makes LCD and touchscreen panels for mobile phones, is going to invest a whopping $1 billion in India. 
 
Bingshuang Chen, chief executive of Holitech Technology, said the company was waiting for research and development (R&amp;D) expertise to grow in India. 
 
"From our point of view, next year will be best time for us to enter the country...It (investment) could be as big as $1billion considering the requirement of facilities, equipment and all other technical aspects,” he told ET. 
 
A high-level Chinese delegation is in India. 
 "If <keyword id="6354671" type="COMPANY" weightage="20" keywordseo="Foxconn">Foxconn</keyword> has not got its own component makers yet, why would others take the plunge. Indian handset makers are already purchasing components from China, so there needs be a compelling business driver for Chinese component makers to invest heavily locally," Vishal Tripathi, research director at Gartner India, told ET. 
 This investment comes at a time when states such as Uttar Pradesh, <keyword id="68884" type="ORGANIZATION" weightage="20" keywordseo="Telangana">Telangana</keyword>, <keyword id="41646" type="COMPANY" weightage="20" keywordseo="Haryana">Haryana</keyword> etc are vying for Chinese investments and are luring them with developed land and skilled manpower. 
 
UP secretary for information technology, Sanjiv Saran said the state will soon begin giving 200% refundable VAT (value-added tax) to companies for building manufacturing units in the state. 
 
"We have created the most aggressive industrial policy and we have given approval to 2,500 companies in the last 18 months, half of them have started operations,” Sujai Karampuri, director of Telangana government's information technology department, told ET. 
 
Devender Singh, principal secretary of IT and electronics in the Haryana government, said, “We are also offering special incentives for mega projects of more than Rs 100 crore.”

This Chinese component maker is going to invest $1 billion in India

The <keyword id="43254" type="PERSON" weightage="20" keywordseo="Yogi-Adityanath">Yogi Adityanath</keyword> government in <keyword id="6357713" type="COMPANY" weightage="20" keywordseo="Uttar-Pradesh">Uttar Pradesh</keyword> is treading cautiously over the investments being made by the Chinese companies in the state, following the face-off between the two countries on the border. Minister for Industry Satish Mahana said many Chinese companies have already started production in Uttar Pradesh and the state government would act only in accordance with the guidelines from the Union Government on the issue. Various incentives are promised to companies that propose to make investments in the state under the provisions of Uttar Pradesh Electronics Manufacturing Policy-2017. The Chinese companies are obviously here to take advantage of the policy and have been given subsidised land to set their units in accordance with the policy. Uttar Pradesh's development authorities, including the Greater Noida Industrial Development Authority and Yamuna Expressway Industrial Development Authority have given 25 per cent rebate while providing the land to foreign companies. These include the Chinese companies also. The state government is committed to reimburse to the development authorities a subsidy of about Rs 200 crore given to the foreign companies. According to official sources, a large investment of about Rs 15,000 crore to Rs 20,000 crore is being made by the Chinese companies that are setting up their units in the electronics manufacturing sector in the state. Many of these companies are already here and have made makeshift arrangements to start their production. Large incentives have been promised to them. "We are now adopting a wait and watch policy before pushing ahead the process of investment that includes giving them a letter of comfort," said a senior official dealing with foreign investment in the electronics manufacturing sector in the state. Major Chinese companies in the process of making investments in the state include Haier Appliances (Rs 2,800 crore), Holitech Technologies (Rs 1,700 crore), Sunwoda Electronics (Rs 1,500 crore) and Vivo (Rs 7,000 crore). Another Chinese company, Oppo, has already made an investment of Rs 2,000 crore and proposes to make an additional investment of Rs 1,500 crore in the state. Other incentives to be given to companies making investment as per the provisions of the electronics manufacturing policy include 100 per cent exemption on stamp duty, capital subsidy on fixed capital, five per cent per annum subsidy on interest for seven years, 100 per cent reimbursement of actual filing costs on awarded patents, 100 per cent state GST reimbursement for 10 years. Special incentives on case to case basis are also promised to companies making investment of more than Rs 200 crore with approval by the empowered committee and the state cabinet.

Uttar Pradesh CM Yogi Adityanath in a fix over the Chinese investments in the state

It’s going to be a lot tougher to buy <keyword id="1648059" type="UNKNOWN" weightage="20" keywordseo="smartphones-in-India">smartphones in India</keyword> around the <a href="http://www.businessinsider.in/searchresult.cms?query=festive+season+sale&amp;sortorder=effectivedate">festive season</a> beginning October, a time when Indians buy the maximum, fancy gadgets included. 
 
The reason is really very simple, plain economics-a demand-supply mismatch. There is, as of now a glaring shortage of mobile components in China, the country which sells the maximum number of <a href="http://www.businessinsider.in/searchresult.cms?query=smartphones+in+India&amp;sortorder=effectivedate">smartphones in India</a>, through companies like Xiaomi, LeEco, Huawei, Oppo, etc. 
 
Many <a href="http://www.businessinsider.in/searchresult.cms?query=chinese+mobile+component+manufacturers&amp;sortorder=effectivedate">Chinese manufacturing units</a> in China have shut shops due to new technology, which requires more investment and hiring labour at higher rates. 
 
The display panel shortage comes as some of the panel makers, especially for the LCD displays which are largely used in the low-end smartphones and make up for majority of the smartphones sold in India, have shut shop recently, while others have not had significant increase in capacity. 
 
This is further aggravated by the fact that consumers are moving towards larger screens, 5"+ and especially at 5.5", so there are fewer glass panels are coming out from the same capacity. 
 
Even though top Chinese handset and component makers mulled over investing around $3 billion in India, the country is still dependent on the Dragon nation. 
 
Some of the key components such as screen displays, 3G SOCs and flash memory will be short in supply, hitting the production plans of many vendors in the Indian market. 
 "This is likely to impact local Indian vendors, the small ones as well as the heavy weights, more than it will impact the global vendors such as Samsung or Apple, who have a more secure supply chain, and Chinese vendors such as OPPO, vivo, Lenovo, Xiaomi and Huawei, who are able to secure better deals due to the large volumes they can commit," said Kiranjeet Kaur, Research Manager Mobile Phones <keyword id="6377157" type="CITY" weightage="20" keywordseo="IDC">IDC</keyword> Asia/Pacific. 
 
"The local country vendors have a disadvantage in this case. This shortage could also possibly lead to longer time to market and increased costs, and some of the costs may eventually get passed on to the consumers," she added. 
 
It is noteworthy that Chinese companies such as Techno, Gionee, Coolpad, Holitech, Wingtech, Camera King, Galaxy Core, Poxiao, Vivo and Sprocomm, which took part in ‘China-India Mobile Phone &amp; Component Manufacturing Summit’, explored avenues to tap the existing and emerging opportunities. 
 
"Going by the encouraging response of Chinese companies and definitive joint collaboration talks between the Indian and Chinese mobile and handset manufacturers, Chinese investment of $2-$3 billion (roughly Rs. 13,360 crores - Rs. 20,040 crores) over the next two years looks like a real possibility along with employment for one-two lakh people" Pankaj Mohindroo, national president, Indian Cellular Association (ICA), had said. 
 
However, IDC expects the Indian smartphone market to still pick up in Q2 of this year, with further gains coming in Q3. 
 
Jaipal Singh, Market Analyst Mobile Phones IDC India, said, “China-based vendors have extended their retail presence in the larger part of India and getting the shelf space along with the Indian vendors. Even as some of the eTailers are focusing more on profitability, which could mean lesser discounts this season, we believe the China-based vendors with presence in retail and push from the eTailers will drive the market this year." 
 
The China-based vendors had 24% share in the Indian smartphone market in 2016 Q1, up from 12% a year ago. Almost two-thirds of their sales takes place through the online channels.

You Searched For "Holitech Technology" and got 3 results

This Chinese component maker is going to invest $1 billion in India

BI India Bureau

Uttar Pradesh CM Yogi Adityanath in a fix over the Chinese investments in the state

IANS

Troubles may mount for Indian smartphone vendors and you can blame China

Akanksha Jain

Popular Keywords

Buying Guides