Nothing's Carl Pei Announces $100 Mn Manufacturing JV In India After Talks With Ashwini Vaishnaw. All Details Here

(MENAFN- Live Mint) Carl Pei, CEO and co-founder of the consumer technology brand Nothing, has revealed plans to expand the company's footprint in India. Following a meeting with Union Minister for Railways and Communications Ashwini Vaishnaw, Pei announced a manufacturing joint venture with Optiemus , one of the country's top technology manufacturers.

Through this JV, Nothing aims to contribute significantly to India's tech ecosystem by investing $100 million and creating more than 1,800 jobs in the country over the next three years, Pei wrote in a X (formerly Twitter) post.

Key details of the plan

After discussing the plan with Vaishnaw, the company has decided to establish CMF, its sub-brand, as a subsidiary headquartered in India. The goal is to build it into the country's first global consumer tech brand.“With our end-to-end capabilities, we are uniquely positioned to bring this vision to life,” he said.

After the meeting, Pei praised the government's 'Make in India' initiative and described Minister Vaishnaw as a driving force behind India's thriving technology sector. "There is no doubt; India will play a key role in shaping the future of the global smartphone industry ," Pei said.

Also Read | Smartphone maker Nothing looks to India's Gen Z for growth

The purpose of the company to enter a joint venture is to localise its production, along with ensuring better supply chain management and faster innovation cycles, ANI reported.

India's smartphone exports soar

According to the India Cellular & Electronics Association (ICEA), India's smartphone exports in August 2025 increased by 39 per cent year-on-year, countering claims of a decline. The body also said that drawing inferences from month-on-month comparisons without context can be misleading, ANI reported.

Also Read | Smartphone exports up 39 pc YoY in August, US shipments surge 148 pc, says ICEA

According to ICEA, exports grew from $1.09 billion in August 2024 to approximately $1.53 billion in August 2025. Shipments to the United States saw a remarkable increase, more than doubling to $965 million in August 2025, which is a 148 per cent rise from $388 million in August 2024.

Also Read | Apple, Samsung boost India's mobile phones exports to ₹1.2 trillion

This growth aligns with a decade-old trend, as India's mobile phone exports have surged 127 times in a decade, growing from ₹1,500 crore to ₹2 lakh crore, as informed by the Union Minister of State for Electronics and Information Technology, Jitin Prasada, to the Lok Sabha in July.

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