Kodak TV India announces investment of Rs 500 Cr as part of its Make in India initiative
Kodak TV India will invest more than Rs 500 crore over the next three years in a fully automated TV manufacturing plant in Hapur, Uttar Pradesh as a commitment to ‘Make in India’ initiative, and leverage its Android certification. This announcement comes at the heels of the Aatmanirbhar Bharat campaign launched by PM Narendra Modi in the wake of the coronavirus pandemic.
Avneet Singh Marwah, CEO of Super Plastronics Pvt Ltd
The new plant will develop Android TV products and Kodak wants to manufacture affordable Android smart TVs for India.
Avneet Singh Marwah, Founder and CEO, Super Plastronics Pvt Ltd (SPPL)–exclusive Kodak Brand Licensee in India–said,
“Currently, the Indian TV industry imports most of the raw materials and has a value addition of only 10-12 percent. However, with this investment, Kodak HD LED TV aims to increase value addition to 50-60 percent. The new plant and R&D Centre will help manufacture technology-driven products and introduce more manufacturing lines aligned to Make in India."
With this announcement, Kodak TV India aims to become one of the first Indian companies to invest in TV manufacturing within the country. In the aftermath of the COVID-19 pandemic, Kodak TV India says it recovered 65 percent of its sales upon resuming operations due to the growing Make in India sentiment and its aggressive pricing.
Kodak TV India is a technology company focused on imaging. The company provides – directly and through partnerships with other innovative companies – hardware, software, consumables and services to customers in graphic arts, commercial print, publishing, packaging, entertainment and commercial films, and consumer products markets.
SPPL, which has the license to manufacture and distribute Kodak TVs in India, is a manufacturing concern established in 1990, and was known to be a manufacturer of CRT TVs and LED TVs.
Avneet Singh Marwah brought Kodak to India in 2016. Kodak and SPPL signed a deal in mid-2016 to build a supply line for Kodak TVs. The Kodak TV brand is sold digitally in India and is exclusive to India.