Upstart Rises 879% as Founder Bets on Making Phones in India
Bloomberg 2/8/2021 Saritha Rai
(Bloomberg) Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing.
Today, Vachani’s startup has grown into a sprawling electronics empire. His Dixon Technologies India Ltd. boasts a market value of more than $2.8 billion and the capacity to produce about 50 million smartphones this year. It’s an early indicator of the country’s opportunities and challenges in building a sophisticated manufacturing sector, a top priority for Prime Minister Narendra Modi.
Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing.
Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing.