Foxconn promises double investment in India over 12 months
Foxconn just made a huge commitment to invest even more in growing its business in India, where iPhones made in the country are about to go on sale. It plans to double its investments there in the coming 12-months as tech hiring in the nation outpaces China.
Foxconn doubles down on India
The company already now runs 30 factories and nine production campuses in India, which accounts for tens of thousands of jobs. Now it promises even more.
In a statement shared to wish India’s Prime Minister, Narendra Modi a happy birthday, a Foxconn executive called V Lee said:
“Under your leadership, Foxconn has grown smoothly and rapidly in India. We will work even harder to present you with a greater birthday gift next year, aiming for another doubling of employment, FDI, and business size in India.”
In response, an Indian minister stressed the government to be “fully committed” to enable such expansion.
‘Only the beginning’
Foxconn has already invested hundreds of millions in India. The company’s senior leadership has said it expects India to become a very important manufacturing center in the future and once again promised additional investment in the nation. Foxconn Chairman Liu Young-way described several billion dollars in investment as only a beginning.
Apple partner Foxconn is among 38 tech firms asking India’s government for subsidy packages as they seek to make computers there, following new tariff decision.
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