Amazon has announced its plan for manufacturing devices in India. The company has announced its plan for setting up its first device manufacturing line in India to make Fire TV sticks locally.
Key Points
- For this plan, Amazon has joined hands with a subsidiary of Foxconn, Cloud Network Technology.
- As per the plan, Amazon will begin producing the device at the Chennai plant this year.
- The Chennai line will have a capacity of manufacturing hundreds of thousands of devices each year, starting with the Fire TV line of streaming devices.
- Amazon will then evaluate scaling capacity to other cities on the basis of domestic demand.
- This shows the commitment of the company towards the Indian government’s ‘Make in India’ initiative.
- Amazon has also reiterated its commitment to invest $1 billion for digitizing 10 million small and medium businesses and helping Indian businesses sell worldwide.
- This will enable $10 billion in cumulative exports and create additional 1 million jobs by 2025.
Amazon and Future Group Tussle
Recently, Amazon has moved to the Supreme Court of India against the Delhi High Court Order that vacated the status quo on Future Group’s proposed Rs 24,713 crore-deal with Reliance Industries. Amazon wants to block this Reliance-Future Group deal.
In 2019, Amazon had invested in Future Coupons, with an option of buying into the flagship FRL after a period of 3 to 10 years.
In 2020, Future Group had entered into Rs 24,713-crore deal with IL to sell its retail, wholesale, logistics, and warehousing units.
