Mumbai: Mivi (Avishkaran Industries), a home-grown manufacturer of audio electronics, laid the foundation stone for its new factory in Hyderabad, Telangana. The ceremony was graced by the principal secretary of the state, Jayesh Ranjan and vice-chairman of the state TSIIC, Vishnu Vardhan. The factory will house the R&D and manufacturing under one roof. The new facility represents a an investment of Rs. 200 crores by Mivi in Telangana and will create 2000 new jobs.
The new facility will be outfitted with technologies and will look to uphold environmental sustainability. This manufacturing establishment can produce 100,000 units daily, encompassing audio products, including earphones, soundbars, speakers, gaming accessories, and an assortment of allied merchandise. This expansion effectively doubles the company’s production capacity in comparison to its existing factory.
The company’s strategic vision it explains extends beyond its proprietary Mivi brand, as it aims to collaborate with esteemed international brands as a product development and manufacturing contractor, with ongoing discussions to solidify such partnerships.
Midhula Devabhaktuni, co-founder, CMO said, “This factory isn’t just bricks and mortar; it’s a symbol of innovation and progress. Alongside producing exceptional products, it will generate opportunities and positive impact nationwide. Notably, it will house component manufacturing for wearables, presently non-existent in India. This is a proud milestone for MIVI and India, showcasing our nation’s burgeoning manufacturing capabilities and reducing reliance on foreign imports in the audio electronics domain. We are honoured to be at the forefront of this ‘Make in India’ revolution, contributing to the country’s self-reliance and economic progress.”
The new factory is expected to be operational by March 2025. Presently, the company claims to be the only manufacturing company in the audio space in India and has a manufacturing facility employing 1500+ people in Hardware Park, Shamshabad, Hyderabad.
