Prama Hikvision India plans to invest about INR 500 crore (about US $75 million) in the next three years to develop the factory to cater to the domestic and overseas requirements.
On October 1, about a 45-minute drive away from the city of Mumbai along the western coast of India, several security industry professionals, a government policy think tank’s representatives, and media gathered at a large newly-built industrial complex. The occasion was the launch of Hikvision’s first factory in India, under its India joint venture, Prama Hikvision India.
The launch was significant to the security industry both in India and abroad. To India, this was a venture in line with the government’s initiatives to encourage local manufacturing.
Prime Minister Narendra Modi, who came back to power for a second term recent...