Foxconn Technology of Taiwan which is also known as one of the largest manufacturer and contractor of electronics has stated that it is planning to develop around 10-12 facilities in India. The company plans to develop manufacturing facilities alongside data centers by the year 2020. A company’s spokesperson started that Foxconn is willing to spend few billion $ in order to develop these world class facilities in India. Hon Hai precision Industry is one of the most reputed units of Foxconn. 

Make in Indian initiative gets a major boost as Foxconn plans to build facilities in India Foxconn’s spokesperson Mr. Gou stated that a large section of its consumers most of which were from china wanted the company to set up its manufacturing facilities in India in order to churn out electronic and communication devices such as mobile phones, tablets and television sets. These statements were made from company’s facility in Guizhou province in China where it is already running a manufacturing unit and data center.

With this announcement, Foxconn becomes the latest tech organization to set up footsteps in India, the second most populous country in the world. Xiaomi was the first company to take this initiate when it announced that it will set up a manufacturing facility in the country.

This move comes at a point when Foxconn seems to be undergoing some tough time in its Chinese manufacturing facilities due to steep increase in expenses and operating costs. The wages of Chinese workers have seen a two fold increase in the past 5 years pushing the company to look beyond China and Taiwan.