Astrum to set up Electronics Manufacturing in Tirupati
Following the signing of a memorandum of understanding document (MoU), Astrum Holdings Limited, a Chinese manufacturer of electronic products has established stated intent in investing in Andhra Pradesh for the future, by agreeing to set up a manufacturing plant as part of the Tirupati cluster of similar manufacturing entities that is still in the process of seeing new entrants, as well as ongoing development works. The firm is based in Hong Kong but already has a presence in twelve locations across the globe.
Speaking after the MoU was signed, Lokesh Nara, Information Technology Minister of Andhra Pradesh said, “AP is turning into a hub of electronics manufacturing. It is evident from the fact that 26 of the every 100 mobile phones manufactured in the last four years in the country are from our State. We are working towards our aim of ensuring that 50 per cent of the country’s electronics goods are manufactured in AP.” The Electronics and Communications Department under whose auspices the MoU was signed, and who will oversee the development of Andhra Pradesh as a hub of high-end manufacturing of electronic goods, reiterated that their overall aims were in the process of being met, as Astrum was the latest in a long line of MoUs signed to establish manufacturing plants in the state, the earlier two cases being Foxconn and Flextronics, to list firms of international repute and recognition. Large-scale Indian manufacturers Like Karbonn and Reliance Jio have also com on board to set up their manufacturing plants in Andhra Pradesh.