Jagan's entry made this top mobile company shift to U.P ?
It is known that, Xiaomi's component supplier, Holitech technology has put up its first production plant in Uttar Pradesh. This company is said to aim at producing key components like, compact camera module, touch screen modules, flexible printed circuits, thin film transistors as well as finger print modules. Production capacity of this plant is said to be 300 million components per year.
What most of us don't know is that Holitech Technology has initially signed an MoU in August 2018 with Andhra Pradesh government. According to the MoU, the Holitech had planned to set up its production company with an investment of 200 million USD in Tirupati, Andhra Pradesh. But the reason for change in decision by the Holitech technology is not known.
However speculations day that, the plant has been shifted to UP from AP due to change of the government in AP. As the MoU was signed between Holitech technology and then CM Chandra Babu Naidu led government of AP, the top officials of the firm have met Babu and shared the MoUs. All this got wasted by change in government according to some sources.
Some even say that, Yogi Adityanath led UP government has extended several incentives to bring Holitech technology to UP. The information regarding the decision of Holitech technology whether to set up plant in Tirupati or not is not yet declared officially.