Besides, Videotex will also invest to upgrade its existing capacity in Greater Noida to 1.4 million TVs and take the combined production capacity to 3.2 million TVs in a year, the company said a statement.
The investment would also add fresh jobs in manufacturing units, back office and more, said Videotex which manufactures TVs for brands such as Realme, Hisense, Toshiba, Lloyd, Hyundai and over 15 other brands.
Videotex International director Arjun Bajaaj said the electronic contract manufacturing in India is projected to grow over six-fold by 2025.
“The increased duty on imports of finished products has given a strong boost to local manufacturing and assembly in India. This move has led to an encouraging response to domestic production. Currently, many brands do not have the manufacturing set up in India, duty leverage inclines several TV manufacturers to look for trusted and reputed local partners with strong experience and expertise to meet their requirement,” he said.
Videotex International is also the first Indian firm to be licensed as a manufacturer of webOS TVs, an LG-owned, Linux-based smart TV operating system.
It has onboarded 14 brands to manufacture webOS TVs in the country.
“Soon, the company will announce product expansion into the appliances and electronics categories,” it added.