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Foxconn plans to invest Rs 320 billion in India

July 04, 2017

 

Taiwan-based contract manufacturer Foxconn is planning to invest around Rs 320 billion in the Indian market with a view to make the country a parallel manufacturing hub to China for export to key markets across Europe and the US.

A large part of the investments is likely to be directed towards setting up of a display fab unit and mechanics operations such as those associated with computer numerically controlled equipment. The company will also invest in lithium-ion cell factory and facilities for printed circuit boards which are used in manufacture of handsets. Foxconn is talks with several state governments such as Maharashtra, Uttar Pradesh, Tamil Nadu, Haryana and Telangana for setting up its facilities.

At present, Foxconn manufactures phones for handset vendors such as InFocus, Oppo, Xiaomi, Nokia and Gionee from its existing facilities in India.

 
 

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