Hyderabad: Avishkaran Industries (MIVI), a local manufacturer of audio electronics, laid the foundation stone for its new state-of-the-art factory in Telangana.
The foundation of MIVI’s new space was laid on Friday, and the ceremony was attended by Principal Secretary (IT and industries) Jayesh Ranjan and vice-chairman of the Telangana State Industrial Infrastructure Corporation (TSIIC) Mr. Vishnu Vardhan. The new MIVI factory will house its research and development (R&D) and manufacturing under one roof, said a press release.
The new facility will also be designed to uphold environmental sustainability and will be able to churn out 100,000 units of audio products, including earphones, soundbars, speakers, gaming accessories, and an assortment of allied merchandise daily.
Midhula Devabhaktuni, Co-founder and CMO, MIVI, said “This factory isn’t just bricks and mortar; it’s a symbol of 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.”
The new MIVI factory is expected to be operational by March 2025. The company also stated that it has an existing a manufacturing facility that employees 1500+ people in Hardware Park, Shamshabad, Hyderabad.
