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News >> Technology >>
Huawei mulls manufacturing unit in India
By siliconindia
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Thursday, 24 March 2005, 20:30 IST
BANGALORE: Chinese telecom giant Huawei Technologies is mulling to start a manufacturing unit in India at a cost of $100 million to tap the growing demand for communication products in the country, a senior company official said Thursday.
Huaweis corporate affairs head J. Gilbert, said "in the next 1-2 years we will be setting up our own manufacturing unit in India. The unit will be set up to meet the regional Indian demand."
Since last year a host of major companies like French telecom firm Alcatel, Swedish company Ericsson, Nokia, Motorola, and Finnish company Elcoteq have announced their manufacturing plans for India.
Indias telecommunication market is the fastest growing telecom market in the world but almost all telecom equipment is being imported, as there is negligible manufacturing in India.
India's telecom ministry has set a target of attracting about $800 million in foreign direct investment in telecom manufacturing in the business year to March 2006 in a bid to lower costs further.