Electronics manufacturing services firm Dixon Technologies (India) Ltd on Monday (December 11) said its wholly-owned subsidiary Padget Electronics Private Ltd has clinched a manufacturing contract with global technology giant Lenovo.
The agreement, set to be finalised through the signing of a definitive agreement, positions Padget Electronics as the chosen manufacturing partner for Lenovo's IT hardware products, specifically laptops and notebooks.
The partnership is a direct outcome of Lenovo's participation in the Production Linked Incentive (PLI) 2.0 scheme, the company said.
"...we wish to inform that Padget Electronics Private Ltd, wholly owned subsidiary of Dixon Technologies (India) Limited, has been awarded manufacturing contract by Lenovo for manufacturing of IT Hardware products i.e. Laptops and Notebooks under Production Linked Incentive 2.0 Scheme," Dixon Technologies said in a regulatory filing.
Under the terms of the contract, Padget Electronics is entrusted with the responsibility of manufacturing IT hardware products, further reinforcing India's standing in the global technology manufacturing landscape.
The PLI 2.0 scheme aims to boost domestic production and incentivise manufacturers to scale up their capabilities, aligning with the government's vision of a self-reliant and technologically-advanced nation.
Shares of Dixon Technologies (India) Ltd ended at ₹6,372.15, up by ₹407.30, or 6.83%, on the BSE.
