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HMD eyes exports from India amid US-China tensions
Mint Mumbai
|November 26, 2024
HMD Global (HMD), makers of Nokia-branded mobile phones, is gearing up capacities and local supplier ecosystem in anticipation of higher levels of exports from India to global markets amid higher tariffs expected to be levied on Chinese products by the incoming US government under President-elect Donald Trump.
"Developments in the US do bring an opportunity to India as a plus-one manufacturing hub. Our organization is geared up, and obviously yes, we are (scaling up). A lot of our sourcing and supply chain is now being based out of India," Ravi Kunwar, CEO and VP of HMD told Mint in an interaction. The company is aiming to raise exports from India to more than 4 million. HMD is currently exporting Nokia brand of feature phones and smartphones to West Asia and Africa, from India. Exports to the US and Europe will be in larger focus now.
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