Leading Taiwanese contract electronics manufacturer Foxconn Technology is planning to invest a “few billion dollars” to develop 10-12 factories, data centers and other facilities in India by 2020.
In an interview with Reuters, Foxconn Chairman Terry Gou said that the growing demand for consumer electronics worldwide required his company to start manufacturing facilities in India as soon as possible.
“A lot of our customers, especially Chinese customers, need us to manufacture … in India, to make phones, tablets, TVs, as soon as possible,” Gou said in Guiyang, China at the company’s manufacturing plant and data centre.
Apart from Chinese brands, Foxconn will also focus on striking deals with Indian companies such as Micromax Informatics. On the investment front, Foxconn is conducting feasibility studies and expects to sign a contract by the end of this year, Gou added.
The move comes a few months after Chinese mobile giant Xiaomi revealed its plans to start manufacturing in India. Foxconn’s expansion plans could be influenced by the fact that its 25 manufacturing facilities in China are proving to be quite expensive as wage rates are rising rapidly there since 2010.
However, things are not going to be all hunky-dory for Foxconn in India. Earlier, it had to face protests from 1,700 strong workforce after closing down a mobile phone plant in southern India. At that time, the company had cited changes in its customer base as the reason for the plant’s closure.
Via: Reuters
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