Press Trust of India
Mumbai, August 8: Global electronic manufacturing giant Foxconn Saturday announced it will invest USD five billion over the next five years in Maharashtra, which has given the Taiwan-based company 1,500 acres of land for its plant. Foxconn Chairman Terry Gou said the facility in Maharashtra will focus on research and development as well as manufacturing, and the company has chosen the state for being a financial centre, availability of quality talent and software-hardware integration facilities.
Foxconn will look for tie-ups with local partners for its presence in this state, Gou said, while adding that this MoU with the Maharashtra government was different from the already announced JV with the Adani group. At an event organised to announce the investment and a Memorandum of Understanding in this regard between the company and the state government, Maharashtra Chief Minister Devendra Fadnavis said Foxconn will be given 1,500 acres of land. Foxconn will create direct employment of 50,000 people through this MoU, Fadnavis said.
Will open factory in every state
Foxconn, the world’s largest electronics assembly manufacturer, Saturday said India would be the next IT hub for it while expressing a desire to open factories in all states in the spirit of the Make in India initiative. Make in India is one of Prime Minister Narendra Modi’s favourite initiatives. In an interview to CNBC-TV 18, Terry Gou, chairman of Taiwanese firm Foxconn, said, “We want to expand our base after setting it up in Pune. The Maharashtra government had encouraged us to come to India and invest in the state.” “The plant in Pune will be dedicated to production, innovation and research and development,” Gou said. “We are not only going to make things here but we are looking at bringing the whole ecosystem here,” Gou said earlier.”We are also looking for local partners in the country and have visited plants of Tata Sons, TCS and Shapoorji Pallonji,” Gou said, as he reiterated his partnership with Adani. He also talked about Foxconn’s vision to work in areas of solar energy, smart power transmission, data centres and investment in startups as a part of the company’s Internet Plus plan. IANS
