Fashion
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.
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.
