MIVI Paves the Way for ‘Make in India’ Audio with their second R&D & Manufacturing Facility; Makes Rs. 200 Cr Investment

NATIONAL/ MUMBAI, 5th APRIL, 2024 (APN) – MIVI (Avishkaran Industries), a leading homegrown manufacturer of audio electronics, laid the foundation stone for its new state-of-the-art factory in Hyderabad, Telangana. The ceremony was graced by the principal secretary of the state, Jayesh Ranjan and vice-chairman of the state TSIIC, Mr. Vishnu Vardhan. A first of its kind in the country, the factory will house the R&D and manufacturing under one roof. The new facility represents a significant investment of INR 200 Crore by MIVI in Telangana and will create 2000 new jobs.

The new facility will be outfitted with cutting-edge technologies and meticulously designed to uphold the highest benchmarks of environmental sustainability. This state-of-the-art manufacturing establishment boasts the prowess to produce a remarkable 100,000 units daily, encompassing an extensive array of audio products, including earphones, soundbars, speakers, gaming accessories, and an assortment of allied merchandise. This monumental expansion effectively doubles the company’s production capacity in comparison to its existing factory.

The company’s strategic vision 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 and 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 is the only manufacturing company in the audio space in India and has a Manufacturing facility employing 1500+ people in Hardware Park, Shamshabad, Hyderabad.Ends/APN

GJEPC Unveils “Brilliant Bharat” Theme at IIJS Tritiya

 

IIJS Tritiya: The Gateway to Global Gem and Jewellery Exports!

India Gem & Jewellery Machinery Expo (IGJME) runs concurrently with IIJS Tritiya Bengaluru 2024

GJEPC signs MoU with Karnataka Jewellers Association

BANGALORE, 5th APRIL, 2024 (APN): India’s apex trade body, The Gem & Jewellery Export Promotion Council (GJEPC) inaugurated the 2nd edition of the India International Jewellery Show - IIJS Tritiya – in Bangalore (Karnataka) at the Bangalore International Exhibition Centre (BIEC) from 5th to 8th April 2024. India Gem & Jewellery Machinery Expo (IGJME) is running concurrently with IIJS Tritiya Bangalore 2024 for the first time ever to showcase world-class technology in manufacturing powered by digital technology tools and techniques.  

GJEPC unveils “Brilliant Bharat” theme for next six India International Jewellery Shows (IIJS). The Brilliant Bharat theme is aimed at rediscovering and celebrating India’s traditions, cultural diversity, and innovative technology to create something truly extraordinary. It also helps to explore the magic of India’s rich heritage, the beauty of our craftsmanship, and the warmth of our people."

IIJS Tritiya was hailed as the gateway for ‘Gateway to Global gem & jewellery Exports’ by the distinguished dignitaries during the inauguration. The inaugural was graced by Dr. Selvakumar, IAS, Principal Secretary, Industries and Commerce, Govt. of Karnataka; Dr. B Govindan, Chairman, Bhima Jewellery; Shri Vinod Hayagriv, MD & Director, C. Krishniah Chetty Group; Mr. Vipul Shah, Chairman, GJEPC; Dr. Chetan Kumar Mehta, President, Jewellers Association Bengaluru; Mr. Kirit Bhansali, Vice Chairman, GJEPC; Mr. Nirav Bhansali, Convener-National Exhibitions, GJEPC and Member of Committee of Administration (COA), GJEPC; and Mr. Sabyasachi Ray; ED, GJEPC.

Mr. Vipul Shah, Chairman, GJEPC and Dr. Chetan Kumar Mehta, President, Jewellers Association Bengaluru signed an MoU to promote gem & jewellery exports from the State through a series of initiatives to be fronted by GJEPC including the Karnataka Jewellery Park.

This year's IIJS Tritiya is bigger, ‘smarter’ and better than last year, featuring over 900 exhibitors and 1,900 stalls across 40,000 square meters. It serves as a vast marketplace, providing invaluable opportunities for industry players to connect, collaborate, and thrive. It has over 15,000 pre-registered visitors from over 500 cities in India and 60 countries, underscoring the event's global significance.

Along with showcasing an extensive range of gold jewellery collections that reflect the rich heritage and craftsmanship of India's jewellery industry, a notable addition to this year's exhibition is the India Gem & Jewellery Machinery Expo (IGJME), showcasing the latest innovations and technologies in machinery from both national and international realms.

Dr. Selvakumar, IAS, Principal Secretary, Industries and Commerce, Govt. of Karnataka, said, “Karnataka’s gem & jewellery industry sets new benchmarks in entrepreneurship, excellence and innovation through technology. Karnataka’s skilled craftsmen are renowned for creating world famous for exquisite and intricate jewellery such as temple jewellery, antique jewellery and Nakash jewellery among others. IIJS Tritiya is a testament to India’s positioning as a hub for designer jewellery powered by smart technology. IIJS Tritiya reconfirms the industry’s commitment, contribution and collaborative efforts to increase gem & jewellery exports from Karnataka and south India.”

Mr. Vipul Shah, Chairman, GJEPC said, "We are a USD 40 billion export industry today, but the scope and potential for further growth is immense, with the ever-increasing demand in the global gem and jewellery market. GJEPC is working closely with Government to secure favorable polices in the upcoming trade pacts for our sector including FTAs with GCC, Canada, UK and EU. Additionally, GJEPC has successfully pursued the government to introduce measures to facilitate ease of doing business in the e-commerce for retail exports of jewellery from the country, enabling Indian sellers to seamlessly deliver their products to global buyers.”

Dr. B Govindan, Chairman, Bhima Jewellery, said, “Investing in the jewellery industry not only creates jobs but also contributes significantly to the economy. It's essential for every citizen to recognise its potential and participate in its growth. With proper support and industry knowledge, this sector can thrive, providing employment opportunities and driving economic development."

Mr. Vinod Hayagriv, MD & Director, C. Krishniah Chetty Group, said, IIJS Tritiya will soon become the landmark show for the whole of India. The show has not only got bigger, but it's got smarter – similar to Bangalore’s reputation as a smart city. We look forward to a very smart industry in the coming decade. I think $70 billion is a very doable target and with GJEPC being there at the helm, I think we could easily achieve that much earlier than 2030.”

Kirit Bhansali, Vice Chairman, GJEPC said, “The Council is focused on empowering MSMEs through initiatives like Common Facility Centres, Mega CFCs, Jewellery Park in Mumbai, Gem Bourse in Jaipur alongside digital platforms for enhanced marketing and sales. These efforts not only contribute to the industry's expansion in the global market but also ensure its alignment with the principles of Viksit Bharat.” 

Dr. Chetan Kumar Mehta, President, Jewellers Association Bengaluru said, “We pledge unwavering support from the Jewellers Association, Bangalore (JAB), to ensure the industry's continual growth and prosperity. With GJEPC’s commendable efforts and initiatives, our industry is on a path to greater organisation and success. As President of JAB, I extend our full support to GJEPC and all industry stakeholders. Thank you to everyone for joining this celebration, and here's to the success of the second edition of IIJS Tritiya.”

Mr. Nirav Bhansali, Convener, National Exhibitions, GJEPC, said, “IIJS is India's leading platform to facilitate gems and jewellery business.  Between 3 shows and 9000 booths IIJS is the gateway for Indian gems and Jewels to the world. IIJS gives opportunities to MSME companies meet customers from across the world.” 

“IIJS Tritiya has also become smarter, bigger and better than last year. It serves as a vast marketplace, providing invaluable opportunities for industry players to connect, collaborate, and thrive. IIJS Tritiya platform is an opportunity for MSME manufacturers to meet global buyers to reach international markets,” said Mr. Bhansali. 

“IIJS Tritiya offers various features and amenities aimed at enhancing the experience including Innov8 Talks providing insights and perspectives. Furthermore, we have introduced several initiatives to embrace digitalization and sustainability. Features such as digital badges, face recognition processes, and the IIJS App streamline operations while minimizing paper usage. Under the One Earth Initiative for IIJS shows, we have already planted 150,000 trees exceeding expectations,” added Mr. Bhansali.

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 8800 members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.

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