Video surveillance products and solutions company Prama Hikvision on Tuesday launched its first end-to-end Make in India production facility at Vasai.
Capable of producing one CCTV camera per a second, the facility, spread over 12 acres, was inaugurated by Niti Aayog member V.K. Saraswat in the presence of Dr. Neeraj Sinha, adviser, science and technology, Niti Aayog.
The plant, which supports a localisation target of 50%, will gradually transition to 100% localisation in the next 18 months. Prama Hikvision India will also invest ₹500 crore to expand its capacity to 5 million cameras per month.
“We are selling about eight lakh cameras a month. In the second phase, which will be completed by end 2019, we have invested ₹500 crore in the new plant. To take the capacity to 10 lakh, we will invest another ₹100 crore. Over time, we will look at exporting to a few other markets. We will begin with exporting to Southeast Asia,” said Ashish Dhakan, managing director and chief executive officer, Prama Hikvision.
The company employs over 750 people and will be adding another 350 by the end of the year. Once the plant expansion is completed, it will have added 1,000 people, taking the total headcount to 2,000 by the end of 2019.
Mr. Dhakan said that in India, there is a growing demand from the government for its ‘smart cities’ initiative as well as for rail and airport security, besides from the hospitality and education verticals.
Set up in 2001, Prama is 42% owned by the Indian partner and the rest by Hangzhou Hikvision Digital Technology, among the world’s largest suppliers of video surveillance and security systems with a 25% global market share.
“This new, integrated state-of-the-art manufacturing facility is an expression of our full commitment to the Government of India’s flagship ‘Make in India’ programme,” Mr. Dhakan said.
