PG Electroplast and PAX India Partner for POS Device Manufacturing

PG Electroplast (PGEL) gained 5.35% to ₹569.55 after completing a definitive agreement with PAX India, an entity of PAX Global Technology, to manufacture Point-of-Sale (POS) devices in India. Production of PAX-branded POS devices is expected to start before the end of the year at existing PGEL sites, marking PGEL's entrance into the payments and fintech hardware segment. 

This partnership extends PGEL's reach from consumer electronics into fast growth digital infrastructure solutions. "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 is now one of very few companies in India to manufacture POS Devices, diversifying our overall portfolio of offering, and allowing us to further execute on our strategy to scale EMS in high growth technology categories," said Vikas Gupta, Managing Director of Operations at PG Electroplast.

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Echoing that sentiment, Sanjeev Sandhu, CEO of PAX India remarked, "India is one of the fastest growing digital payments market in the world, and we are dedicated to supporting it with world class, locally manufactured POS solutions. Partnering with PG Electroplast significantly strengthens our presence in India, as we are able to combine the technology leadership of PAX and the manufacturing capability of PGEL, while giving our Indian customers the benefits of improved reliability and scalability through local manufacturing."

PG Electroplast is a leading electronic manufacturing services (EMS) and contract manufacturing company for many of the leading consumer durable and electronics brands in India, with excellent OEM and ODM capability across washing machines, air conditioners, LED TVs and more.