Dixon-Vivo JV nears final approval: Sources

New Delhi [India], June 30 (ANI): The proposed joint venture between Dixon Technologies and Chinese smartphone major Vivo is in the final stages of clearance, government sources said on Tuesday.
"Government is in the final stages of issuing an approval letter for the Dixon-Vivo JV," a source said, adding that the "JV is inching closer to the final nod."
The joint venture was cleared by an inter-ministerial panel earlier this month, the sources said.
For Dixon, mobile and electronics manufacturing services is already the core growth engine. For FY26, Dixon Technologies reported revenue of Rs 48,873 crore, with its mobile phone and electronics manufacturing services (EMS) business accounting for Rs 44,257 crore, highlighting the segment's importance to the company's overall operations.
The tie-up advances the Centre's push for deeper localisation and supply-chain resilience in electronics. By aligning Vivo's brand and market share with Dixon's PLI-backed manufacturing scale, the JV is expected to boost domestic value addition and create capacity for third-party OEM work.
With the inter-ministerial panel's clearance already in place, the final approval letter is seen as the last procedural step before the JV is formally notified. Once approved, integration of the Noida facility and production ramp-up for both Vivo's portfolio and external clients could begin in phases, strengthening India's position as a global electronics manufacturing hub.
On Tuesday, shares of Dixon Technologies closed nearly one per cent higher at Rs 11,911 on the National Stock Exchange. (ANI)