Oppo, Vivo, Realme To Have Indian CEO, CTO? Big Rule Change For Chinese Mobile Phone Companies
© Provided by DNAThe Center has made a comprehensive rule change for Chinese mobile phones and mobile companies like Xiaomi, Oppo, Vivo and Realme, which are very popular in India due to their affordability. However, these companies now have to operate under Indian regulations.
According to an Economic Times report, under new guidelines from the Center for Mobile Phone Companies in China, if they want to continue manufacturing in India, they must include Indian business partners in their local operations.
Besides, Chinese mobile companies like Xiaomi, Vivo, Oppo and Realme and others have Indians in key positions of their companies such as Chief Executive Officers (CEO), Chief Financial Officers (CFO), Chief Technical Officers (CTO) etc. to reports.
The Economic Times also reported that the center has urged Chinese mobile phone companies to set up joint ventures with Indian companies to increase local manufacturing and hire Indian contract manufacturers, as some of these companies have Chinese distributors.
As quoted by the Economic Times, executives have told Chinese companies to ensure compliance and avoid tax evasion in India. These new rules and challenges have been communicated to companies like Oppo, Vivo, Realme and Xiaomi by the Ministry of Electronics and Information Technology.
These companies have also received strict warnings against tax evasion and must comply with all Indian laws and regulations. Through these new rules, the center aims to make India a leading export and manufacturing country and harness local talent and businesses.
While Oppo and Vivo have yet to make any official comments on the matter, Xiaomi said that all the top local positions of the Chinese company are currently held by Indians and that the company is among the first adopters of the Make In India initiative.
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