OPPO will invest $60 million in micro, small and medium enterprises (MSMEs) and SMEs in India to strengthen the local supply chain network for smartphones. The investment will be made in phases over a period of five years under project ‘Vihaan’.
According to the company, it will be focusing on initiating the development of next-gen technologies such as artificial intelligence, 5G etc. to accelerate the product development process in India in the next five years. Further, it aims to partner with more local suppliers to strengthen the local supply chain for a robust smartphone ecosystem in India. OPPO India has collaborated with the government and the industry to encourage nearly 30 tier-1 suppliers to set up operations in India.
Commenting on the development, Vivek Vasishtha, vice president, public affairs, OPPO India, said, “The forward-looking, industry-friendly policies of the Indian government have created an enabling environment which nurtures and promotes innovation, unleashing the electronics manufacturing industry. With a robust local supply chain getting established, the time is right for promoting exports of our quality Make in India smartphones to identified markets. This would facilitate OPPO India in expanding the export capacity to $5 billion over the next five years. In tandem with the government’s vision of an ‘Aatmanirbhar Bharat’, OPPO India will be strongly supporting local manufacturing and exports, SMEs and MSMEs, cutting-edge technologies, and skill development in the sector through the ‘Vihaan’ program.”
