Sunday, 9 August 2015

Foxconn Plans $5 Billion Investment Over 5 Years In Maharashtra Facility : 08 Aug 2015

The Foxconn announcement will bolster Indian Prime Minister Narendra Modi's "Make in India" campaign, which aims to turn Asia's third-largest economy into a manufacturing powerhouse. Taiwan's Foxconn, the world's largest contract electronics manufacturer and a key supplier to Apple Inc (AAPL.O), on Saturday signed a pact with Maharashtra to invest $5 billion over five years on a new electronics manufacturing facility. The announcement was made by Foxconn founder Terry Gou and Maharashtra Chief Minister Devendra Fadnavis after the signing of an accord in the state capital Mumbai. The Foxconn announcement will bolster Indian Prime Minister Narendra Modi's "Make in India" campaign, which aims to turn Asia's third-largest economy into a manufacturing powerhouse. Gou said Foxconn, the trade name for Hon Hai Precision Industry Co Ltd (2317.TW) which also counts Blackberry (BB.TO), Xiaomi and Amazon (AMZN.O) as clients, was looking for local partners for the facility in the western

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