Wistron & Foxconn to invest Rs 7,500 crore for expanding biz in India

Wistron and Foxconn are looking to invest Rs 7,500 crore over five years to expanding their production facilities in India.

Both companies are global electronics contract manufacturers. Quoting a person aware of the proposed investments, a report in Franchise India said, “Wistron is expected to begin manufacturing iPhone 8 in the country, while Foxconn’s plans are to support higher levels of manufacturing of existing clients such as Xiaomi and Nokia phones.”

Wistron has applied to the government to invest Rs 5,000 crore while Foxconn Rs 2,500 crore. The applications have been made under an incentive package.

These proposals, it is expected, would give these companies benefits of Rs 1,000 crore and Rs 500 crore, respectively.
Till now, the government has approved as many as 193 of the 421 applications received under the modified incentive package scheme (M-SIPS).

Image Credit : www.techspot.com

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