Local electronics manufacturer MIVI invests Rs 200 crore in domestic manufacturing

MIVI Invests Rs 200 Crore in Local Manufacturing; Sets Up State-Of-The-Art Factory in Hyderabad.

New Delhi, April 5: MIVI, a homegrown manufacturer of audio electronics, announced a significant investment of Rs 200 crore in local manufacturing. The company laid the foundation stone for its new state-of-the-art factory in Hyderabad. The new facility will house R&D and manufacturing under one roof and create 2,000 new jobs.

Midhula Devabhaktuni, Co-founder and CMO of MIVI, expressed pride in this milestone, highlighting India’s growing manufacturing capabilities and reduced reliance on foreign imports in the audio electronics sector. Devabhaktuni mentioned that the factory will also produce components for wearables, filling a gap in the Indian market. The new facility is expected to be operational by March 2025.

The company emphasized that the new factory will be equipped with cutting-edge technologies, focusing on environmental sustainability. With the capacity to produce 1,00,000 units daily, it will manufacture a wide range of audio products such as earphones, soundbars, speakers, gaming accessories, and more.

Established in 2016 by Viswanadh Kandula and Devabhaktuni, MIVI aims to elevate the Indian electronics industry by providing high-quality products tailored to customers’ preferences. This initiative reflects a step towards self-reliance in manufacturing and contributing to the growth of the local economy.

The investment in local manufacturing by MIVI is a significant development in India’s audio electronics sector. With the new factory set to commence operations in 2025, it marks a substantial contribution towards enhancing domestic manufacturing capabilities and reducing dependence on imports.