To meet the demand of growing customer base and increase penetration in consumer durables segment in India, Pearl Electronics Ltd is venturing into manufacturing and marketing of USB flash drives, popularly known as pen drives, and a wide range of memory and storage devices.
The first phase of the project, which entails investment of Rs 15 crore, is going to be kicked off in next three months with identification of manufacturing site and setting up of assembly line. Initially, Pearl Electronics plans to start with production of 10,000 units and thereafter scaling the production to 25,000 units.
Since the Finance Ministry has imposed anti-dumping duties on USB flash drives imported from China and Taiwan to protect the domestic industry from unfair competition, Pearl Electronics believes that initiation of local manufacturing of memory products by the company will benefit the consumers at large with high quality products at competitive prices.
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The advent of new policies and regimes being proposed by the Modi Government to make domestic electronics manufacturing more attractive has opened up new business opportunities in the electronics industry. Besides, the 'Make in India' website, launched by the government, identifies memory cards and USB drives as one of the top 10 electronics products in terms of revenue.
"Hence, in order to expand the outreach and scope of operations and to make best use of Make in India strategy, the company is getting into a tie-up with a Taiwan brand for exclusive technology transfer so as to produce hi-tech products like USB flash drives and storage devices within the country and to provide maximum growth to the Indian electronic sector," said Pearl Electronics in a press release.
