The AP State government entered a Memorandum of Understanding with Flextronics Company on Tuesday to establish a unit at Sri City near Tirupati in Chittoor district, reported The Hans India.
The unit is expected to start production from August 15 onwards. The Flex will produce components of cell phone.
Francois Barbier, President Global Operations and Components of Flex said that they have presence in thirty countries across the world. The Flex is the third largest electronics manufacturing company on the globe.
Referring to AP, Francois said that there is suitable ecosystem in the state to reach more number of customers and hence the company decided to establish the manufacturing unit here. While exchanging the MoU, Francois said that they have come to this state with a trust on the State government.
On this occasion, Minister for IT and Electronics Nara Lokesh said that as part of the government’s target to pocket fifty percent of the electronics production in India. He said the electronics manufacturing in India stands around 480 Billion Dollars. Chief Minister Nara Chandrababu Naidu wanted to get fifty percent of the total electronics market from Andhra Pradesh.
It took three months to finalize this agreement. Flex delegates explained that they have looking for further cooperation from state government. Along with the Flex, their ecosystem partners also will come into the state. The state will be top in manufacturing of electronics in the south India, Lokesh hoped. Reliance also ready to establish manufacturing company here in the State, Lokesh reiterated.