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 recently.
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 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 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.
The company’s strategic vision extends beyond its proprietary Mivi brand, as it aims to collaborate with esteemed international brands.
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 a positive impact nationwide. This is a proud milestone for MIVI and India, showcasing our nation’s burgeoning manufacturing capabilities and reducing reliance on imports.”
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.
