Just a day after Prime Minister Narendra Modi stressed on going “Vocal for Local”, Realme India CEO Madhav Sheth has tweeted about the company’s ‘Make in India’ plans for the near future. Modi in his national address on Tuesday made a big pitch for indigenous products, saying it would be a huge contributing factor to an "Atmanirbhar Bharat" – a self-reliant India.
According to the Realme India head, the plan is to generate 10,000 direct jobs by the end of the year 2020. These new jobs would aid in achieving the target of 3.5 million unit production every month boosting the Make in India campaign. Realme’s aim is to manufacture more than 50 percent of its product components in India.
As a brand started from India and focus on #MakeInIndia. Sharing our vision for 2020:- 10,000 direct jobs by EOY.- 3.5 Mil. monthly production capacity- 50%+ components from India.We will continue to bring technology that empowers everyone.:fire: pic.twitter.com/mHtSvfdRnYMay 13, 2020
The tweet doesn’t mention the company’s current manufacturing capacity or which models are made in India. However, once being an Oppo subsidiary, it is believed that most of Realme’s current production takes place under its parent’s roof. Oppo is one of the big contributors to the ‘Make in India’ initiative. The company already has a full-blown manufacturing facility in Greater Noida. It is spread over 110-acres and already employs a 10,000 strong workforce.
With Realme’s plans to ramp up production, we expect smartphone prices to possibly become cheaper as more and more components get produced on Indian soil. This should also translate to import tax benefits in the long-term for manufacturers.
Realme’s chief business has been in the smartphone segment and its growth in the past two years has been stupendous. As per a report by Counterpoint Research group, Realme grew 255% in India in 2019. The growth of Realme was driven by an aggressive go-to-market strategy with several industry-first features.
