Intex plans Rs 1000 crore investment under Make in India

Intex Technology is planning to invest Rs 1000 crore in India to strengthen its operation. The investment will be allocated from April onwards. In coming years it plans to invest Rs. 500 crore to build a new smartphone manufacturing plant.

With the Rs. 1000 crore, the company is planning to invest Rs 350 crore to strengthen the customer service and increase retail points, Rs 250 crore towards marketing, Rs. 100 crore in R&D and Rs 200 crore to increase manufacturing capacity.

Besides its existing manufacturing units in Jammu and Baddi in Himachal Pradesh, where mobile batteries, chargers, multimedia speakers and feature phones are manufactured, Intex is in talks with Rajasthan, Uttar Pradesh and Uttarakhand state governments, to finalise the location to put up the manufacturing unit. Intex is also in talks with its Chinese partners and chipset vendors for the upcoming facility and will invest Rs. 500 crores.

With the investment, it is hoping to curb its dependence on China for feature phones, even though it will continue its focus on smartphones. With 3-4% market share, Intex is eyeing an increase to 10% by the year end. It will also focus on its presence through e-commerce.