Foxconn will provide double jobs in India: Company will also increase investment and business, said- will give big gift to PM on his birthday next year
Taiwanese electronics manufacturer Foxconn plans to double its workforce and investment in India. The company’s representative in the country, Wei Lee, gave this information on Sunday while wishing Prime Minister Modi on his 73rd birthday.
He wrote on LinkedIn, ‘Under your leadership, Foxconn has grown rapidly in India. We will work even harder to give you a big birthday gift next year, aiming to double employment, FDI and business size in India.
Company provides jobs to 40,000 people in Tamil Nadu plant
According to media reports, 40,000 people currently work in Foxconn’s Tamil Nadu plant. At the same time, last year Reuters had reported that Foxconn is planning to hire 53,000 people in the next two years.
Foxconn part of PLI scheme of Government of India
All three of Apple’s contract manufacturers (Foxconn, Wistron and Pegatron) are part of the Rs 41,000 crore Production-Linked Incentive Scheme (PLI) of the Government of India. It is only after this scheme that iPhone manufacturing in India has increased. In 2020, the Government of India launched the PLI Scheme
.
Through this scheme, companies from outside countries get an opportunity to take advantage of local manufacturing and also earn incentives on it.
Apple’s manufacturing is being shifted from China to India
Due to increasing tension between America and China, Apple’s manufacturing is being shifted from China to India. After geopolitical tension and the Corona epidemic, other American tech giants including Apple are also working on expanding their manufacturing facilities outside China.
Foxconn will set up mobile component plant in Kanchipuram
Foxconn will set up a mobile component plant in Tamil Nadu. For this, Taiwan’s Hon Hai Technology Group (Foxconn) has signed a Letter of Intent (LOL) with the state government two months ago. This plant will be set up near Foxconn’s existing iPhone plant at Sriperumbudur in Kanchipuram district at a cost of Rs 1,600 crore.
Foxconn wants to set up 4-5 semiconductor plants in India
Foxconn wants to set up 4-5 semiconductor chip manufacturing units in India. A day after Foxconn broke the joint venture with Vedanta, it had informed the Electronics and Information Technology Ministry about it.
