Foxconn plans to build 10-12 plants in India in 5 years
The Foxconn Group plans to establish 10-12 plants to create over one million job opportunities in India before 2020, according to chairman Terry Gou.
The rise of the domestic market and clients’ demand for local production in India, including Apple, Microsoft and Xiaomai, has prompted Foxconn to consider building its production bases in the country, said sources at Taiwan’s handset supply chain.
Foxconn’s move also aims to strengthen its ties with local handset brands in India, including Micromax, Karbonn, Intex, Lava and Spice, which have seen their popularity continue to rise with plans to ramp up their local production.
To strengthen its presence in India, Foxconn plans to team up with local governments and businesses to set up incubators in Delhi, Mumbai, Bengaluru and Hyderabad to foster the development of innovative companies, said the sources.
Foxconn also plans to approach local channel operators in India, including Snapdeal, Flipkart and Adani for building up distribution systems in the country, added the sources.