Foxconn seeking investment opportunities in india

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Let friends in your social network know what you are reading. Foxconn, which is considering building factories in Wisconsin, wants a 1,acre site for one foxconn seeking investment opportunities in india its plants — 4 times the size of GM’s former Janesville complex, and 9 times as big as the old Chrysler engine plant in Kenosha. A link has been sent to your friend’s email address. A link has been posted to your Facebook feed. Welcome to our new and improved commentswhich are for subscribers invsstment. This is a test to see whether we can improve the experience for you.

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The company is looking for manufacturing sites in India. So far it hasn’t been able to settle on any in particular, Foxconn Chairman Terry Gou told a news conference in New Delhi. Too many places, too many states, too many cities. The choice is difficult,» he said. Foxconn is the world’s largest contract electronics manufacturer by revenue. It has long-term plans for Asia’s third-largest economy and hopes to do more in India than simply assemble smartphones and laptops.

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The company is looking for manufacturing sites in India. So far it hasn’t been able to settle on any in particular, Foxconn Chairman Terry Gou told a news conference in New Delhi. Too many places, too many states, too many cities.

The choice is difficult,» he said. Foxconn is the world’s largest contract electronics manufacturer by revenue. It has long-term plans for Asia’s third-largest economy and hopes to do more in India than simply assemble smartphones and invesmtent. Gou said. Analysts say Foxconn is looking to diversify its global network of factories as the company faces more competition and rising wages in China, where it has most of its manufacturing operations.

Some of Foxconn’s previous efforts to expand in more countries have stumbled. The company has yet to make good on plans to build factories in Indonesia, citing issues with high land prices and tax concerns, both of which are big problems in India as.

Not long ago, Mr. Gou sniffed at investmwnt idea of setting up in India, saying that the country’s labor problems and tax rules were worse than China’s. He wasn’t alone in his assessment of India as an electronics-manufacturing destination. While other sectors—including software, services and automobiles—have attracted the lion’s share of foreign direct investment, electronics has been a relatively unpopular sector when it comes to FDI. Just last week, General Motors Co.

Many of Asia’s exports powerhouses—starting with Japan and continuing through South Korea, Taiwan, China and elsewhere—have created massive electronics industries to fuel their exports. India has been less successful at developing the industry.

Its workforce has proved adept at doing software and other types of outsourcing, but it hasn’t been as good at electronics hardware. Confusing regulations and tax law as well as a lack of infrastructure has at times made it too risky and too expensive for electronics manufacturers to make products in India.

Now, Mr. Gou says India seems to be taking off and its startup landscape reminds him of Silicon Valley 10 years ago. His new interest in India may have come because India fixed a quirk in the tax code, which used to mean importing electronic components was more expensive than importing the final product.

Plunging smartphone prices also have triggered seekinng increase in demand in the South Asian nation. India has evolved into a booming market for the things Foxconn inndia.

In the past foxxonn years, the number of smartphones in India has nearly doubled to million. Foxconn’s plans could be good news for Indian Prime Minister Narendra Modi’s plans to build a manufacturing base in the country to create jobs and replace imports. That would mean smartphones, laptops seeikng flat-screen televisions will likely surpass oil to become the country’s biggest import.

Gou said he isn’t rushing into investing in Foxconn seeking investment opportunities in india. On Tuesday, he compared it to deciding whether to propose marriage. This item was corrected at a. Log in. E-mail Password Remember Forgot password? Sign up. New member.

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Foxconn may shy away from investing in Maharashtra

Foxconn: Far ahead of the pack in India. Not sure which package aeeking choose? A «complete package» detailing market factors and Indian incentives on offer will then be readied for presenting to potential investors, according to the government record of the Aug. Keep abreast of significant corporate, financial and political developments around the world. Opinion Show more Opinion. Alphabet Inc’s Google is shifting its Pixel smartphone production to Vietnam from China starting this year, the Nikkei business daily reported on Wednesday. Pay based on use. The document said the government will meet companies between Aug. Skip Navigation. Mail This Article.