"It's a step to ensure that CBU import becomes non-competitive," Gionee India MD Arvind Vohra said. “The differential duty has come in the form of BCD, which is what we were expecting as we were sure the government would protect (investments like ours),” said the Finnish company’s MD Sasikumar Gendham. The company is adding capacity of 50 million chargers a year to take its total capacity to 200 million in Chennai, with an investment of Rs. 74 crore.“Now, the government is coming up with a long-term policy, so one can commit funds for expansion,” Intex’s Jain said. Noida-based contract manufacturer Dixon is pushing ahead its plan to set up a line to populate printed circuit board (PCB) with a capacity of 1 million units a month at its plant, at an initial investment of Rs 30 crore by September.

Source: Economic Times July 02, 2017 19:18 UTC