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इंडियन आवाज़     20 Apr 2024 11:57:28      انڈین آواز

Foxconn to invest $ 5 billion in Maharashtra

(Last Updated On: 09/08/2015)

signed an agreement with the Maharashtra government on Saturday in Mumbai to invest 5 billion $ in the state over the next five years, the largest investment by a foreign company in the western province. The agreement was signed by the state’s industry secretary Apurva Chandra and Foxconn’s chief financial officer David Huang.

Maharashtra’s chief minister Devendra Fadnavis and Foxconn’s chairman Terry Gou were present on the occasion. Foxconn manufactures gadgets for world’s leading electronic brands, including Apple, Huawei, Xiaomi, BlackBerry and Motorola. This is second major coup for Maharashtra in the past fortnight. On 30 July, General Motors announced an investment of Rs.6,400 crore in the state.

Speaking with reporters later in pune, Fadnavis said, “This investment will generate 50,000 direct jobs and the Foxconn plant is most likely to come up at Talegaon in Pune district along the Pune-Mumbai expressway on 1,500 acres of land.

Fadnavis referred to his visit to Foxconn’s facility in China recently and the fact that the company’s investment in India will provide a boost to the Indian government’s Make in India campaign. “Various studies show that if we don’t start manufacturing electronic items in India by 2030, our electronic items import bill will surpass our crude import bill,” Fadnavis added.

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