Dixon Technologies To Collaborate With Xiaomi India For Phone Manufacturing And Export

Dixon Technologies (India) Ltd (DIXO.NS) announced on Wednesday that it will collaborate with Xiaomi Corp's (1810.HK) Indian unit to manufacture and export phones for the Chinese company.

The revelation, which increased Dixon's stock by 4%, comes after Xiaomi India announced plans to begin manufacturing wireless audio goods in the country through a partnership with electronics firm Optiemus.

India has been urging global corporations to invest more in local manufacturing as part of its efforts to become a global electronics supply chain powerhouse.

Earlier this month, Xiaomi India President Muralikrishnan B. told Reuters that the company will expand beyond its present network of 20,000 retail partners and increase local procurement of mobile phone parts in an effort to save costs.