PG Electroplast, Jaina Group establish electronics manufacturing JV
PG Electroplast Limited (PGEL) and Jaina Group have joined forces through a Memorandum of Understanding (MoU) to form an electronics manufacturing joint venture (JV) company.
The collaboration aims to strengthen India’s electronics manufacturing industry by leveraging their respective expertise and resources.
Under the terms of the MoU, the JV Company will initially focus on Original Design Manufacturing (ODM) of Google-certified LED Televisions. However, there is also a provision to expand the partnership in the future to include a wider range of products, such as Refrigerators, IT Hardware, Wearables, and Hearables.
The execution of mutually acceptable agreements between the parties will result in the JV Company being jointly owned, with PG Electroplast and Jaina Group each holding a 50% stake.
Jaina Group, a provider of end-to-end business solutions, is actively involved in the telecom, consumer durables, and electronics sectors. As a conglomerate, Jaina Group currently owns and operates four prominent brands – Karbonn, Gionee, Sansui, and Sens. Additionally, it stands as one of only three Google Original Design Manufacturer (ODM) licensees in India, further solidifying its position in the industry.
Pardeep Jain — Jaina Group Founder and Managing Director said: “We are pleased to enter into a JV with PG Group and believe this partnership will strengthen India’s electronics manufacturing industry & contribute towards the goal of an Atmanirbhar Bharat. With PGEL’s manufacturing pedigree & our deep experience in consumer electronics, this venture is well positioned to be a leading player in its space.”
The establishment of this joint venture reflects the commitment of both PG Electroplast and Jaina Group to contribute to India’s vision of self-reliance in electronics manufacturing. By combining PG Electroplast’s manufacturing expertise with Jaina Group’s experience in consumer electronics, the JV is poised to become a leading player in the industry.
This strategic collaboration is expected to bring about increased manufacturing capabilities and a broader market reach for both companies. It represents a significant step towards strengthening the domestic electronics manufacturing sector and fostering innovation in the industry.
The execution of mutually acceptable agreements by PG Electroplast and Jaina Group paves the way for the establishment of the JV Company, setting the stage for future growth and success in the rapidly evolving electronics market.
Vikas Gupta — PG Electroplast Managing Director (Operations) said: “PGEL is delighted to deepen its relationship with Jaina Group. Jaina is a well-established and trusted name in the industry and the new JV will help strengthen our position and increase our addressable market by providing a great alternative for brands looking for manufacturing partners.”