The announcement was made by Foxconn founder Terry Gou and Maharashtra Chief Minister Devendra Fadnavis after the signing of an accord between the 2 in the state capital, Mumbai.
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Pune: Citing India as the next IT hub, the electronics assembly manufacturer giant, Foxconn said that it would open its factories all across states in the spirit of “Make in India” initiative. Gou said that Foxconn, known officially as Hon Hai Precision Industry Co.
The announcement will bolster Prime Minister Narendra Modi’s “Make in India” campaign, which aims to turn Asia’s third-largest economy into a manufacturing powerhouse. Setting up a facility in India could help cut Foxconn’s labour costs and boost sales of iPhones in a country that boasts 952 million mobile connections. Early this week, General Motors had announced their decision to invest $1 billion. “In this background, I see this as a very important MoU”, Fadnavis said.
Apple, Blackberry, Xiaomi and Amazon are amongst its key shoppers, and Foxconn is eager to tie up with native companions for the Maharashtra facility. In the first three years, it will focus on Make in India and Skill India, he adds.
Last month, the company had announced to pump in United States dollars 20 billion in the solar sector, along with Japan’s SoftBank and Bharti Enterprises.
Fadnavis said officials from Foxconn have already been shown land parcels and will be taking a call on the exact location soon.
He also said he considers the Adani Group as a partner. He met officials from Tata Sons, TCS, Bharat Forge, Shapoorji Pallonji and also visited the IIT-Bombay, which he admired as one of the best technology schools in the world, during his Mumbai visit.
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Additonally, the company has entered a tie-up with Bollywood filmmaker Subhash Ghai’s Whistling Woods worldwide with a grant for a media lab at its campus in Goregaon East.
