MIVI (Avishkaran Industries), a player in the audio electronics sector, has started the construction for its factory in Hyderabad, Telangana. MIVI aims to make an investment of Rs 200 crore for setting up the manufacturing unit.
The manufacturing facility will employ 2,000 individuals. The facility aims to produce 100,000 units daily, encompassing a range of audio products such as earphones, soundbars, speakers, gaming accessories, and more. This expansion effectively doubles MIVI’s production capacity compared to its existing setup.
Midhula Devabhaktuni, Co-founder and CMO of MIVI, articulated the company’s vision, stating, “This factory signifies more than just physical infrastructure; it embodies innovation and progress. Beyond manufacturing superior products, it will catalyze nationwide opportunities and positive impacts.”
“Notably, it will facilitate component manufacturing for wearables, a segment currently underserved in India. This milestone underscores MIVI’s pivotal role in India’s manufacturing landscape, fostering self-reliance and economic advancement.”
The factory, slated for completion by March 2025, underscores MIVI’s dedication to elevating India’s electronics manufacturing ecosystem. Presently, the company operates the sole manufacturing facility in the audio sector in India, employing over 1500 individuals at its Hardware Park location in Shamshabad, Hyderabad.
Left-Right: Ritesh Kumar, General Manager, BOB; Jayesh Ranjan, Principal Secretary of the Industries & Commerce and IT Departments of the Telangana government; Midhula Devabhaktuni, Co-Founder and CMO, Mivi; Viswanadh Kandula, Co-founder and CEO, Mivi; E Vishnu Vardhan Reddy, IFS Vice Chairman & Managing Director, TSIIC
