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Showing posts with the label Mobile Manufacturing

Foxconn Looks To Invest $5 Bn In India To Establish Manufacturing Hub Foxconn Looks To Invest $5 Bn In India To Establish Manufacturing Hub

Foxconn Is In Talks With State Governments Including Maharashtra, UP, Haryana Foxconn Technology Group is looking to  invest up to $5 Bn in India , to explore the possibility of establishing a manufacturing hub parallel to China. The Indian hub will be instrumental for export to markets across Europe and the US. A top official at the Taiwanese company told TOI that Foxconn will soon ramp up Indian operations in an “exponential manner.”  This move is powered by the implementation of GST, and the imposition of an import duty on mobiles phones . The levy of the duty and the tax combined will discourage sourcing goods  from China and other foreign locations. Last week, the government imposed a 10% customs duty on phones and key parts such as chargers, headsets, batteries and USB cables. This will give an impetus to investments in local manufacturing. The source further added, “India is already high on our priority list, and we now plan to step up investments and business he

Mobile hub set to create new industrial ecosystem

A file photo of Prime Minister Narendra Modi interacting with the workers of Shri Venkateswara Mobile & Electronics Manufacturing Hub during his recent visit inTirupati. Chief Minister N. Chandrababu is seen. ‘Employment-intensive units likely to generate 8,000 to 10,000 jobs for the local youth’. The local economy is all set to get a shot in the arm with the establishment of ancillary units and supporting facilities here. A new industrial ecosystem centred on mobile and electronics industry is shaping up near Tirupati, which is all set to generate thousands of jobs for the local youth. ‘Sri Venkateswara Mobile and Electronics Manufacturing Hub’ is the new industrial landmark near Renigunta airport on the city outskirts, for which Prime Minister Narendra Modi laid the foundation stone recently. For the first time in the country, four Indian mobile manufacturing companies viz., Micromax, Celkon, Karbonn and Lava, have come forward to set up manufacturing and as