Foxconn is the world's largest chip manufacturer will start its exports from December. The remarkable thing is that these exports are from the Foxconn manufacturing unit in Sri City, Andhra Pradesh, India. The exports are destined to Middle East and African countries. Foxconn is now finding ways to expand the manufacturing units across Tamil Nadu, Maharashtra and NCR Delhi. If the same pace continues, Foxconn India will be out ruling the export targets of Samsung by 2020.
Foxconn is now collaborating with Reliance Jio for the manufacture of 4G VoLTE feature phone in India. If this contract goes smoothly, a huge number of devices (18-20 million) devices will be manufactured in India's Foxconn plants. Also, Foxconn is working on collaborating with a debutante telecom company, with a contract of 8-10 million device manufacture.
Industry insiders said Foxconn, which makes iPhones for Apple out of China, will accelerate discussions with several component suppliers - on and off talks have been on for a year - over next couple of months, now that the government has assured protection to local manufacturing through basic customs duty of 10% and created a road map for local production of components coupled with tax incentives and benefits.
Foxconn Technology Group told ET it won't comment on the company's plans "for reasons of commercial sensitivity." The company has so far invested over $600 million into India, including its investments into e-commerce platforms Snapdeal and messaging app Hike. This amount excludes the nearly $5 billion in partnership with the government of Maharashtra promised in late 2015.
Industry insiders said Foxconn, which makes iPhones for Apple out of China, will accelerate discussions with several component suppliers - on and off talks have been on for a year - over next couple of months, now that the government has assured protection to local manufacturing through basic customs duty of 10% and created a road map for local production of components coupled with tax incentives and benefits.
Foxconn Technology Group told ET it won't comment on the company's plans "for reasons of commercial sensitivity." The company has so far invested over $600 million into India, including its investments into e-commerce platforms Snapdeal and messaging app Hike. This amount excludes the nearly $5 billion in partnership with the government of Maharashtra promised in late 2015.
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