Foxconn Intends To Invest 6000 Crore In India, 40000 Jobs To Be Created In India – ZMR Blog
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Foxconn Intends To Invest 6000 Crore In India, 40000 Jobs To Be Created In India

Foxconn Intends To Invest 6000 Crore In India, 40000 Jobs To Be Created In India

Foxconn, one of the world’s largest assembler of electronic devices, such as iPhone, with contract, is going to set up a plant at a cost of Rs 6,000 Crore in India. A person aware of the case told that the Foxconn plant will look to 200 Acres of land in JNPT (Jawaharlal Nehru Port Trust) Special Economic Zone (SEZ) near Mumbai. This Taiwanese company, the largest supplier of Apple, told the Port Authorities that the JNPT project will create 40,000 new jobs.

Nitin Gadkari, Shipping, and Road Transport Minister, while confirming on this topic, told that Foxconn has sent a plan to the government regarding the plant. Gadkari said, “It urged us to provide land in JNPT.” It is not clear whether Foxconn will make an iPhone in this plant or another product, but considering the place, it seems that the goods made here will be exported. The Foxconn Technology Group did not respond to the question related to it.

A total of 277 Hectares of land in JNPT comes in special economic zones, of which 77 Hectares are allocated for basic infrastructures like roads and general facilities. Planning of housing projects was canceled due to the huge demand for the unit being set up by the companies. Gadkari said, “About 25–30 companies have been contacted and bids have been started for 17 Acre land auction on JNPT. I hope this SEZ will employ 2 Lakh people.”

A top government official said that contract man Foxconn would have to bid with others for land as the nomination route is not allowed in India.

Experts say that Foxconn will have to put full weight in the Indian market for investing in JNPT. This will increase the chances of applying the first campus in India besides China. Foxconn has the largest manufacturing base in China. The company has five plants in Sri City, Andhra Pradesh, where it manufactures around 15 Million phones annually for other companies including Xiaomi, Nokia, Gionee, and Infocus. It makes Nokia’s smartphone and feature phones, and for the rest brands, it only makes smartphones.

The company wants to double its capacity in India in this financial year and is looking for land to set up some plants. It has been reported in last month that the Indian unit of Foxconn was evaluating the land within the Nokia SEZ in Sriperumbudur, besides various places of Maharashtra and Delhi-NCR. The company is also going to invest between $2–3 Million in Greenfield in Navi Mumbai to produce mobile phones and other products.

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