Foxconn to invest $5B to set up first of up to 12 factories in India

As part of its plan to set up to 12 manufacturing facilities in India by 2020, contract manufacturer Foxconn Technology Group is investing US$5 billion in a factory and other facilities in the western Indian state of Maharashtra.The Indian government has been coaxing foreign companies, including smartphone makers, to set up manufacturing units in India under its “Make in India” program.A number of smartphone makers are planning to make the devices in the country, with Chinese maker Xiaomi expected to announce its first phone manufactured in India on Monday.The government recently gave security approval to Huawei Technologies’ plans to set up a manufacturing facility for network equipment in the country, though the facility still needs final approval from the ministry of commerce as it is a Chinese company, according to sources close to the matter. India and China have a border dispute.To read this article in full or to leave a comment, please click here