Giving boost to Government’s #MakeInIndia initiative, with single largest investment plan, world electronics giant FOXCONN will invest about Rs 35000 Crores ($5 billion USD) in western state of Maharashtra in India.
India is one of largest electronics markets and expected to be $400 billion USD by 2022 from ~$75 billion in 2015.
FOXCONN, $130 billion Taiwanese multinational, is World’s largest Electronics Contractor Manufacturer and 3rd largest IT company by revenue.
Company will start R&D centre, Software-Hardware integration plant, hardware manufacturing and green housing city for employees in 1500 Acres land at Pune (near Mumbai).
When asked why the chosen Maharashtra state over other locations, Foxconn chaiman Mr Terry Gou praised Maharashtra CM (see 3rd Video) for his Leadership, Hardwork, Efficiency, fast Decision Making and Passion to facilitate Foxconn to invest in his State than other options!
Maharashtra state Chief Minister Mr Devendra Fadnavis said FOXCONN will provide direct jobs to 50000 people (scalable upto 300000) in state.
Foxconn is world’s supplier of leading brands – BlackBerry, Xiomi, iPad, iPhone, Kindle, PlayStation 4, Xbox One, Wii U to name few.
Its a very unique “Soft-Hard” ware tie up for Indian Techies as India is one of the largest suppliers of Software Technology and FOXCONN is largest in Hardware manufacturer.
Make in India gets a Boost – Foxconn to Invest $5 Billion in Maharashtra
Foxconn Says Looking at Long Term Investments in India (#MakeInMaharashtra)
CM Devendra Fadnavis- signing of 5 billion dollar MoU between GoM & Foxconn, with Press announcement
Related News:
- WSJ-Foxconn Plans to Spend $5 Billion on Factories in India’s Maharashtra State
- TOI- Boost for Make-In-India: Foxconn to invest $5b in Maharashtra,India
- ET- Foxconn to invest $5 billion in India
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Image Source: ET news clip above
Sources: Wikipedia, Bloomberg, ET, WSJ, Timesofindia,IBEF india, google search and all links in the post.
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