Foxconn Expansion In India Will Boost Local Economy

After China, Foxconn will expand their business in India with $5 Billion investment plan after the founder Terry Gou and Maharashtra Chief Minister Devendra Fadnavis have signed an agreement in Mumbai.

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The move will boost the campaign “Make In India” which aim to make India as a third largest economy manufacturing powerhouse. It is still unknown whether the iPhone will be part of the production line in India. But it is known that, Apple have a serious thought to expand their business in India.

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Foxconn expansion in India will boost local economy with the initial plan to open 10 – 12 facilities in the 5 years plan. During peak production, Foxconn may employed more than 1.3 million people.

(via Recode and WSJ)

 

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