Brands
MIVI invests Rs. 200 Cr in second Make in India audio facility
Mumbai: MIVI (Avishkaran Industries), a homegrown audio electronics manufacturer, laid the foundation stone for its new state-of-the-art factory in Hyderabad, Telangana. The ceremony was graced by the principal secretary of the state, Jayesh Ranjan and vice-chairman of the state TSIIC, Mr. Vishnu Vardhan. A first of its kind in the country, the factory will house the R&D and manufacturing under one roof. The new facility represents a significant investment of Rs 200 Crore by MIVI in Telangana and will create 2000 new jobs.
The new facility will be outfitted with cutting-edge technologies and meticulously designed to uphold the highest environmental sustainability benchmarks. This state-of-the-art manufacturing establishment boasts the prowess to produce a remarkable 100,000 units daily, encompassing an extensive array of audio products, including earphones, soundbars, speakers, gaming accessories, and an assortment of allied merchandise. This monumental expansion effectively doubles the company’s production capacity in comparison to its existing factory.
The company’s strategic vision extends beyond its proprietary Mivi brand, as it aims to collaborate with esteemed international brands as a product development and manufacturing contractor, with ongoing discussions to solidify such partnerships.
Midhula Devabhaktuni co-founder and CMO said “This factory isn’t just bricks and mortar; it’s a symbol of innovation and progress. Alongside producing exceptional products, it will generate opportunities and a positive impact nationwide. Notably, it will house component manufacturing for wearables, presently non-existent in India. This is a proud milestone for MIVI and India, showcasing our nation’s burgeoning manufacturing capabilities and reducing reliance on foreign imports in the audio electronics domain. We are honoured to be at the forefront of this ‘Make in India’ revolution, contributing to the country’s self-reliance and economic progress.”
The new factory is expected to be operational by March 2025. Presently, the company is the only manufacturing company in the audio space in India and has a Manufacturing facility employing 1500 people in Hardware Park, Shamshabad, Hyderabad.
Brands
UltraTech Cement appoints Jayant Dua as managing director
Dua will succeed K. C. Jhanwar after his term ends in December 2026
MUMBAI: UltraTech Cement, the flagship cement arm of the Aditya Birla Group, has elevated Jayant Dua as managing director, effective 1 April, 2026.
The company’s board also approved his appointment as additional director, managing director and key managerial personnel, effective 1 January, 2027, following the completion of the current managing director K C Jhanwar’s term on 31 December, 2026, according to a regulatory filing.
Dua will serve as managing director for a four-year term from 1 January, 2027 to 31 December, 2030.
A veteran executive with more than 37 years of professional experience, Dua joined the Aditya Birla Group’s cement business in 1996 and spent nearly a decade in various functional and leadership roles.
Over the past two decades, he has held several profit-and-loss and chief executive responsibilities across multiple group businesses, including insulators, insurance, Century Cement and the chlor-alkali segment. In 2023, he was elevated to lead the group’s renewables and textiles businesses.
Within the group, Dua has received several internal honours, including the chairman’s individual award for exceptional contribution in 2002, the outstanding leader award in 2009 and the leader of leaders recognition in 2022.
He holds an engineering degree from Indian Institute of Technology Delhi, an MBA from International Management Institute and has completed the advanced management programme at Harvard Business School.
