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Bloomberg
Indian smartphone maker Lava International Ltd. is in advanced talks with China’s Huaqin Technology Co. to create an electronics manufacturing venture in the South Asian nation.
The venture would aim to win contracts from US and Chinese customers for research and development, design, and manufacturing of electronics products, according to a letter from Lava to India’s technology ministry seen by Bloomberg News. Talks for the partnership are close to being completed, according to the letter.
The pact would give the closely held companies heft as they seek to take on rivals such as Foxconn Technology Group. The Taiwanese giant, which assembles phones for Apple Inc., is among electronics companies that have built out production capacity in India to diversify beyond China and take advantage of incentives that are part
of Prime Minister Narendra Modi’s aspirations to make India a manufacturing hub.