homebusiness NewsICEA says with arrest of Hari Om Rai, industry morale is at an all time low

ICEA says with arrest of Hari Om Rai, industry morale is at an all time low

Mobile and Electronics Industry Body ICEA says Lava Chairman Hari Om Rai's arrest has demoralised National Champions. The ICEA also records the contributions of Hari Om Rai to the domestic industry.

Profile image

By Ashmit Kumar  Oct 14, 2023 7:19:09 PM IST (Published)

Listen to the Article(6 Minutes)
2 Min Read
ICEA says with arrest of Hari Om Rai, industry morale is at an all time low
In a strongly worded statement, industry body India Cellular and Electronics Association (ICEA), representing the Mobile and electronics industry has issued a statement condemning the arrest of Chairman and MD of Lava International, Hari Om Rai. In its statement, the ICEA claimed that the arrest has caused the industry morale to dip to an all-time low. The statement records that the National Champions of domestic industry, has been demoralised.

Share Market Live

View All

The statement comes in response to the Enforcement Directorate (ED) arresting Hari Om Rai and 3 other accused in its investigation into the Chinese phone maker, Vivo. The ED had arrested him on October 10. On the same day, he was remanded to 3 days of custodial interrogation by the Additional Sessions Judge Devender Kumar Jangala. On October 13, his remand with ED was extended for another 3 days.
In the statement, the ICEA notes, “We want to assure them that we have full confidence in India’s regulatory and judicial system and we are sure that he will emerge from the clouds and continue to champion the development of our industry which is critical in building the nation.”
The ICEA also records the contributions of Hari Om Rai to the domestic industry. The statement reads, “Hari Om Rai’s contribution in the massive growth in the mobile phone manufacturing in India is well acknowledged by all the stakeholders which has resulted in creation of $44 billion Mobile Manufacturing ecosystem with more than 1 million new jobs.”
It further states, “He made sure that Lava survived as a national brand and is the last man standing. Lava has built enviable capabilities including design and a frugal domestic supply chain. We are confident that Lava will emerge as a global champion in the entry and mid-level mobile phone market globally”
Interestingly, in the October 13 remand hearing Hari Om Rai addressed the court personally and made an impassioned appeal. He submitted that as a sign of protest he had not had a morsel of food till the remand hearing.
Hari Om Rai submitted, “ED claims to be championing the national cause, but I am working for the country too. I have been coaching the Niti Aayog and PMO. Lava is the last surviving Indian brand (of mobile phones)”

Most Read

Share Market Live

View All
Top GainersTop Losers
CurrencyCommodities
CurrencyPriceChange%Change