Reliance partners with Sanmina to install electronics manufacturing hub in India.

Mukesh Ambani-led Reliance Industries ltd. has been on an acquisition spree lately. Other than acquisitions the company is also looking for new grounds in different emerging sectors. A few days back Chairman of Reliance Industries Ltd. Mukesh Ambani said they will be investing in hydrogen-based green energy initiatives in the coming years. Other than the green energy sector, Now Reliance Industries Limited has aimed to set its foot in the electronics manufacturing industries in India. Reliance Industries has announced that its wholly owned subsidiary has partnered with Sanmina to create an electronics manufacturing hub in India. Both the companies have signed a deal worth $200 million. Sanmina is a United States electronic manufacturing company that has 40 years of experience in the field. Reliance Strategic Business Ventures will own 50.1% and Sanmina Corporation will own 49.9%. Director of Reliance Jio, Akash Ambani said: “We are delighted to work with Sanmina to access the significant market opportunity for high-tech manufacturing in India. For both growth and security, it is essential for India to be more self-reliant in electronics manufacturing in Telecom, IT, Data Centers, Cloud, 5G, New Energy, and other industries as we chart our path in the new digital economy.”