DEVICENEXT
Business

Dixon And Bharti Enterprises Sign MOU T0 Form A Joint Venture Company

Dixon-Technologies-Saurabh-Gupta

Dixon has entered into Memorandum of understanding (“MOU”) with Bharti Enterprises Ltd to form a Joint venture (JV). Dixon’s wholly owned subsidiary- Dixon Electro Appliances Private Limited or any other Company identified by the parties will be the JV Company which will undertake  manufacturing of telecom and networking products like modems, routers, set top boxes, IOT devices, etc for the telecom sector/industry including Airtel . 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.

Commenting on this occasion, Mr Saurabh Gupta, CFO, Dixon Technologies said “It gives us immense pleasure that we have partnered with Bharti which is an iconic brand. 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.”

Mr. Deven Khanna, Group Director, Bharti Enterprises said, “We are pleased to join hands with Dixon Group to strengthen India’s electronics manufacturing sector & to contribute to government’s vision of an Atmanirbhar Bharat. 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.”

Related posts

We Are Open to Transferring all of Our 5G Technologies: Mr. Ren Zhengfei, Founder and CEO, Huawei

devicenext

ASUS strengthens its Pan-India Omni-Channel Strategy

devicenext

Twilio Acquires ValueFirst In a Move to Capture India’s Mobile Market

devicenext

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

error: Content is protected !!