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Xiaomi to open three new manufacturing plants in India

Xiaomi to set up 3 plants to boost local production Xiaomi India Head and Global Vice President Manu Jain. (Mint) Share Via Read Full Story Chinese smartphone maker Xiaomi will open two new mobile manufacturing plants and a television plant in India. In an interview, Manu Jain, Xiaomi’s India head and global vice president, said 99% of its smartphones and 100% of its televisions sold in India will now be manufactured in the country. “We would love to see India as an export hub. We started exporting in small quantities last year to nearby countries such as Bangladesh and Nepal. Right now, the No. 1 priority for the Indian business is to meet local demand, which we believe is significantly more than what we are supplying. Once we meet 100% of the local demand, we will start thinking of further increasing our exports, he said.

Long bets on Indian rupee hit over three-year high

Long bets on Indian rupee hit over three-year high An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo (REUTERS)Premium Anushka Trivedi , Reuters The dollar has hit multi-year lows this week, despite a jump in US yields, on the Federal Reserve s dovish tone and as risk appetite improved due to vaccination efforts, with investors now looking to high-growth economies that will benefit from a pick-up in global trade Share Via Read Full Story Bullish positions on the Indian rupee climbed to a more than three-year high on optimism over the economic outlook, a Reuters poll found, while investors turned bearish on the Philippine peso for the first time since April last year.

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