The world Largest electronic manufacturing giant seeking to boost up their production capacity for its major key players like Nokia, (now owned by HMD Global), Infocus, Gioenee, and Xiaoni which are growing exotically in India and required more production capacity in coming months to meet the increased customer requirements. And also, Foxconn is more likely developing Indian operation for making a hub to China for exporting key market players in Europe and US.
To support championed Make in India campaign Tamil Nadu Local government also supporting and will provide a land subsidy to Foxconn India to facilitate and develop a vendor ecosystem in the state, according to the industry minister of state Mr.M C Sampath announced to allot 49 acres of land to Foxconn India for expansion of existing plant. Company assurance to generate 30,000 new more employment in coming next three years.it was said by industry minister Mr.M C Sampath to reporters.
Foxconn chairman & CEO Terry Gou was very much excited the potential growth in India and committed to more investment in India during this last visit.
To speed up localization of electronic parts and component used in smartphone manufacturing government already giving tax benefits such as companies and imposing higher import duties to fully built unit from China to encourage local sourcing.
Foxconn already having a big manufacturing set up in India with a production capacity of almost 4 million unit per month. But Foxconn India still expecting a huge potential growth in the sector and doing the more investment India to targeting 10 million unit’s production capacity per month.
Foxconn India producing 15 million phones per year for all leading mobile phone producers line Xiaomi, Gioenee Nokia, OPPO, Infocus etc. The company also planning to make India as Hub to exporting the units in other world location like West Asia and Africa as well globally. An American Brand Infocus is also a tie-up with Foxconn and last year Infocus was introduced recently in the Indian market.
Foxconn currently four manufacturing plants in India. They are operational in Shri City, Andhra Pradesh and one more near Chennai. Foxconn Mainly manufactures Phones and television for various brands.
Foxconn also produces smartphones major players like OPPO, Xiaomi, Gioenee, Apple and its own brand Infocus in various manufacturing units in India.
The company already providing employment for 7000 peoples within Tamil Nadu state and will also be expected to create 5000 more new employment opportunities till Jan 2018. Foxconn also signed an agreement with Maharashtra government and announced to do the investment of 5 million dollars within 5 Years of time.
As all, you are aware that Foxconn starts their journey in India in 2006, opened its first plant in Special Economic Zone (SEZ) Chennai, Tamil Nada, India. But it was closed by the company on 24 December 2014. Due to this shut down 25000 employments as affected. Foxconn has done a huge investment in worldwide and presents almost all geographical locations like Japan, China, US, Brazil, Europe, Malaysia etc.