Well, there is a lot of buzz surrounding India’s Prime Minister, Narendra Modi’s visit to China. Mr. Prime Minister seems to be making most out of the short visit, as per the reports, he has met top shot Chinese companies CEOs in Shanghai on his last day of the visit. To name a few, there were acclaimed tycoons present at the meeting, such as Xiaomi president Lin Bin, Jack Ma of Alibaba, and Huawei chairman Sun Yafang among many others.
Xiaomi president Lin Bin told PM Modi,“We have some big plans for India, We fully support Make in India.” He also stated on his Facebook page that his company is in strong favor of Modi’s ambitious “Make In India” initiative. Xiaomi is also partnering to set up manufacturing operation in India and it also has plans to invest $100M in Indian mobile internet start-ups to help in the boom of mobile internet in India.
Apparently, after China, India is the second biggest market for Xiaomi and the company has carved its niche in the budget smartphone segment of India. Not long ago, Xiaomi was also dubbed to open an R&D unit in India and under the process of signing a lease for coming up with a center in Bangalore. Also, the company is also planning to set up a local production unit in India along with 100 experience stores in a year or so.