PG Electroplast and PAX India announce Strategic Manufacturing Partnership in India

PG Electroplast Limited ("PGEL"), one of India's leading Electronic Manufacturing Services (EMS) providers, today announced that it has signed a definitive agreement with PAX India, a subsidiary of PAX Global Technology Limited (HKEX: 327), to manufacture Point-of-Sale (POS) devices in India.

Under the arrangement, PGEL will manufacture PAX-branded POS devices at its existing facilities, with production slated to begin by the end of this year. This agreement marks PGEL's entry into the payments and financial technology hardware segment, expanding its presence beyond consumer electronics into high-growth digital infrastructure solutions.

Commenting on the agreement, Mr. Vikas Gupta, Managing Director - Operations, PG Electroplast Limited, said,"We are proud to partner with PAX, a global leader in POS devices, to bring advanced digital payment solutions to India under the Make in India initiative. With this partnership, PGEL becomes one of the very few companies in India to manufacture POS devices, further diversifying our portfolio and reinforcing our commitment to scaling EMS in high-growth technology categories."

Mr. Sanjeev Sandhu, CEO of PAX India, said,"India is one of the fastest-growing digital payments markets in the world, and we are committed to serving it with world-class, locally manufactured POS solutions. Partnering with PG Electroplast allows us to strengthen our presence in India by combining PAX's technology leadership with PGEL's proven manufacturing expertise. This collaboration enables our Indian customers to benefit from greater reliability and scalability, through local manufacturing."

The collaboration strengthens PAX India's leadership position by enabling greater localization, efficiency, and scale. It also supports the Government of India's "Make in India" and "Digital India" missions, ensuring world-class POS devices are manufactured locally to meet the nation's growing demand for secure and reliable electronic payment solutions.

Source : Equity Bulls

Keywords

PGElectroplast EMS Agreement PAXIndia PointofSale Devices India