Oppo India said it will invest USD 60 Million in the next five years to partner with more MSME local suppliers on the supply chain.
Oppo India has launched ‘Vihaan’ for micro, small, medium enterprises (MSMEs) to strengthen the local supply chain for the smartphone ecosystem. The company said it will invest USD 60 million in the coming five years as an opportunity to partner with more local suppliers. The company claims that it has partnered with the government and industry to support 30 Tier-I suppliers setting up operations in the country.
“They have employed over tens of thousands of Indians locals contributing to the development of the electronics industry and enhancing India’s stature in the global value chains,” Oppo India said in a statement last week.
“This would facilitate OPPO India in expanding the export capacity to USD5 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 & exports, SMEs and MSMEs, cutting-edge technologies, and skill development in the sector through ‘Vihaan’ program,” Vivek Vasishta, Vice-President, Public Affairs at Oppo India.
Oppo India said it has a network of over 1,000 distributors who are the example of MSMEs seeking support to improve their professional skills and sales drive. The initiative will help the smartphone maker to grow and strengthen its network enabling their growth locally and globally.
A statement by the Ministry of Finance has stated that the announcement has come days after the custom duty evasion of around Rs.4,389 crore by Oppo India, a subsidiary of China’s Guangdong Oppo Mobile Telecommunications Corporation Ltd.
The company has stated a different view on the mentioned charges in the reply to the show cause notice. “We believe it’s an industry-wide issue many corporate companies are working on. Oppo India is reviewing the show cause notice received from DRI, and we are going to reply to the notice, presenting our side, and will be working further with the related government departments,” Oppo India said in a statement.
