Nothing CEO Carl Pei meets Ashwini Vaishnaw, announces USD 100 mn manufacturing JV in India

New Delhi [India] September 25 (ANI): Carl Pei, CEO and co-founder of the consumer technology brand Nothing, met with Union Minister for Railways and Communications, Ashwini Vaishnaw, to discuss the company's ambitious plans to strengthen its presence in India and contribute significantly to the country's tech ecosystem.

Sharing the details in a social media post, X, Pei wrote, "We discussed our journey with Nothing and our plans to establish CMF as a subsidiary headquartered in India - building it into the country's first truly global consumer tech brand. Built from India, to the world. With our end-to-end capabilities, we are uniquely positioned to bring this vision to life."

"As part of this, I'm excited to announce our new manufacturing joint venture with Optiemus, one of India's leading technology manufacturers - a key milestone in making this vision a reality. Through this JV, we plan to invest over USD 100M and create more than 1,800 jobs in India over the next three years," the post further added.

After the meeting, Pei lauded 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.

Pei shared insights into Nothing's journey and announced plans to establish CMF as a subsidiary headquartered in India.

A significant milestone in this strategy is Nothing's new manufacturing joint venture with Optiemus Electronics, one of India's leading technology manufacturers. The joint venture will enable Nothing to localise production, ensuring better supply chain management and faster innovation cycles.

Smartphone exports in August 2025 increased by 39 per cent year-on-year, countering claims of a decline, and cautioned against drawing inferences from month-on-month comparisons without context, the India Cellular & Electronics Association (ICEA) said.

ICEA reported that exports increased from USD 1.09 billion in August 2024 to approximately USD 1.53 billion in August 2025, with shipments to the United States more than doubling. Exports to the US increased by 148 per cent to USD 965 million in August 2025, compared to USD 388 million in August 2024.

India's mobile phone exports have surged 127 times in a decade, and they grew from Rs 1,500 crore to Rs 2 lakh crore, Union Minister of State for Electronics and Information Technology, Jitin Prasada, informed Lok Sabha in July. (ANI)

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