Fresh after a meeting with Prime Minister Narendra Modi, Lenovo CEO and Chairman Yang Yuanqing said he had committed to more investments in India.
“We will invest more in India, and only in manufacturing. Almost all our PCs are made in India and we recently announced smartphone manufacturing also. We will invest in R&D also and that is my commitment to PM Modi,” he said at a Lenovo Innovation Showcase in New Delhi. He said the conversation with Modi was good and “was encouraged by his vision”, adding that they also spoke about Digital India. “It is very encouraging.”
Yuanqing said the India unit of Lenovo had outperformed the target he had set for them and clocked $2.5 billion in revenue. The company was now among the top 50 in India. He said the India division was now promising to double the revenue in three years. “That will make us a $6 billion company and in the top 20,” he added.