Fox­conn has big in­vest­ment plans for In­dia: re­port

The China Post - - LOCAL -

The Fox­conn Tech­nol­ogy Group’s ( ) 10-year in­vest­ment plan in In­dia could make it the big­gest for­eign in­vestor in the In­dian gov­ern­ment’s “Make in In­dia” pro­gram so far, the Eco­nomic Times of In­dia re­ported Wed­nes­day.

The daily re­ported that Fox­conn, known in Tai­wan as Hon Hai Pre­ci­sion In­dus­try Co. ( ), is ready to in­vest over US$2 bil­lion to set up fac­to­ries in In­dia over the next five years to pro­duce mo­bile de­vices, TVs, elec­tronic prod­ucts, bat­ter­ies and key elec­tronic com­po­nents.

“The man­u­fac­turer of the iconic Ap­ple iPhones is also plan­ning to set up one or more data cen­ters and some fab units over the next 10 years,” the re­port said.

Fox­conn Chair­man Terry Gou ( ) was quoted as say­ing at a press con­fer­ence in New Delhi that In­dia of­fers “good in­vest­ment op­por­tu­ni­ties” for a 5-10 year hori­zon for Fox­conn, which sees In­dia as a man­u­fac­tur­ing, ex­pan­sion and ex­port base.

Ac­cord­ing to the re­port, Gou was in In­dia for a three- day visit and made a two and a half hour pre­sen­ta­tion on Mon­day night af­ter a din­ner meet­ing with In­dian Prime Min­is­ter Naren­dra Modi. He met with Tele­com Min­is­ter Ravi Shankar Prasad on Tues­day.

Gou said the com­pany would look at pro­duc­ing phones, TVs, pre­ci­sion ma­chines, bat­ter­ies, data cen­ters, stor­age, and switch routers, among other things, and would seek out lo­cal part­ners for dif­fer­ent projects, which will be set up in stages.

Gou also re­vealed his wish list for in­vest­ing in In­dia, in­clud­ing tar­iff pro­tec­tion to en­cour­age do­mes­tic man­u­fac­tur­ing, tax pre­dictabil­ity for the next sev­eral years and fi­nan­cial in­cen­tives to pull in­vest­ments from China.

At the press con­fer­ence, Gou dis­closed Fox­conn’s part­ners in In­dia, in­clud­ing e-com­merce player Snapdeal, In­dia’s No. 2 mo­bile phone ven­dor Mi­cro­max and re­fur­bished goods e-tailer Green­dust.

He also said he con­sid­ers the Adani Group as a part­ner.

The In­dian daily re­ported that in a state­ment to stock ex­changes, Adani Group flag­ship unit Adani En­ter­prises said it was in talks with Fox­conn on a man­u­fac­tur­ing joint ven­ture but no agree­ment had been signed as yet.

The fil­ing did not spec­ify the na­ture of the joint ven­ture or the prod­ucts that it will man­u­fac­ture, but the re­port cited sources as say­ing that “Fox­conn could lo­cate a plant and data cen­ter at Adani’s SEZ in Mun­dra and use the Adani Port to bring in heavy ma­chin­ery.”

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