TS aims Rs 2.5L-cr revenue from electronics mfg sector
KTR inaugurates Radiant Appliances & Electronics’ new plant to come up in Raviryal village with an investment of `100 cr
image for illustrative purpose
Radiant Appliances & Electronics makes one TV every 14 seconds and it accounts for 25 per cent of all the TVs manufactured in the country. It has more than doubled its capacity from 2.1 million TVs a year to 4.5 million TVs a year
Hyderabad: The Telangana government has set a target to generate revenue of around Rs 2.5 lakh crore and to create 16 lakh employment opportunities in the electronics manufacturing sector over the next 10 years, said KT Rama Rao, Minister of IT, Industries and MA&UD, after inaugurating the new plant of Radiant Appliances & Electronics at Fab City SEZ in Raviryal village, Maheshwaram on Monday.
As the chief guest, he said, "Telangana already has two electronics manufacturing clusters, and two more clusters are coming up here. With stable government and able leadership, the manufacturing clusters are expanding beyond Hyderabad. We are identifying more land parcels for these clusters. The new generation of entrepreneurs shall grab the opportunity by setting up units here."
"The State offers speedy approvals, uninterrupted power supply and conducive work environment to the industries and other customers. Also, there is no dearth of skilled manpower here. Over 15,000 people are being employed in the Fab City at present and the number of workforce will be more than doubled to 40,000 by next year," KTR said.
Speaking about Radiant Appliances & Electronics, he said that the company is the single largest LED TV manufacturer in the country. It provides direct employment to around 3,800 persons, out of which, 53 per cent are women and 60 per cent are from Telangana. It has invested Rs 100 crore to increase its capacity and created a further employment of 1,000 people.
The Hyderabad-based company makes one TV every 14 seconds and it accounts for 25 per cent of all the TVs manufactured in the country. It has more than doubled its capacity from 2.1 million TVs a year to 4.5 million TVs a year. It could increase its revenues by 35 times and also increase the production capacity due to favourable business environment.
On the occasion, Radiant Appliances & Electronics Managing Director Raminder Singh Soin presented their five millionth TV to the minister. Despite the supply chain challenges due to Covid-19 pandemic, the company has achieved the milestone of producing more than 5 million LED TVs in last couple of years, in technical collaboration with Skyworth Group Co Ltd, a Chinese holding company. He said, "With the capacity expansion by inaugurating new plant, we shall be emerging as no 1 in LED TV manufacturing in near future. Radiant has been constantly working on indigenisation and working closely with local vendors for developing robust eco-system for strengthening and promoting the ancillaries. We aim to provide substantial local employment by adding new manufacturing units."
Manikandan Narasimhan, Director of Radiant Appliance, said: "Radiant Appliances have been consistently achieving new milestones in the electronics manufacturing sector. Industry-friendly business environment, support and encouragement of the government has contributed immensely to our success."
