Dixon Technologies India Limited has formed a joint venture with China-based HKC Overseas Limited to manufacture display modules in India. The project is valued at about ₹370 crore. The new company will be called Dixon Display Technologies Pvt. Ltd. and will focus on producing LCD and TFT-LCD modules that are used in televisions, smartphones, laptops, monitors and automotive displays.
Under the agreement HKC will hold a 26 percent stake while Dixon will hold the remaining 74 percent. HKC’s investment is close to USD 11 million, while Dixon is investing around USD 31 million in two tranches. The facility is planned to be set up in Noida.
The move comes after Dixon had applied for government approval earlier this year because of Chinese involvement in the deal. The venture aligns with the Indian government’s aim of increasing local manufacturing of electronic components and reducing dependence on imports.
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