Foxconn to set up manufacturing hub in India

06 Jul 2017
00:00

Foxconn will invest up to 320 billion rupees ($4.9 billion) to establish more manufacturing capabilities in India, in response to the nation's recent legislative changes designed to incentivize local manufacturing.

The company plans to exponentially scale up its Indian operations, opening new factories and expanding its manufacturing footprint, TimesNowreported.

India has just announced a 10% customs duty on the importation on phones and accessories in a bid to encourage local manufacturing. The move comes two years after he introduction of tax benefits for companies making handsets locally.

It is currently unclear how the recently-announced GST of up to 18% of the cost of transactions will influence the benefits for local manufacturing.

According to the report, India currently has the capacity to produce up to four million devices per month, manufacturing phones for companies including Xiaomi, Oppo, InFocus, Nokia and Gionee.

Related content

Follow Telecom Asia Sport!
Comments
No Comments Yet! Be the first to share what you think!
This website uses cookies
This provides customers with a personalized experience and increases the efficiency of visiting the site, allowing us to provide the most efficient service. By using the website and accepting the terms of the policy, you consent to the use of cookies in accordance with the terms of this policy.