Wistron to invest Rs 5,000 crore and Foxconn Rs 2,500 crore under an incentive package
Recently it has been reported that Wistron and Foxconn,the global electronics contract manufacturers are planning to expand their production facilities in India,also looking forward to invest Rs 7,500 crore over five years.
As per reports,Wistron has proposed to invest Rs 5,000 crore and Foxconn Rs 2,500 crore under an incentive package that will likely give them benefits of Rs 1,000 crore and Rs 500 crore, respectively.
And as per the source,Wistron is likely to begin manufacturing iPhone 8 in the country, may shift some of its PC, Internet of Things, medical and cloud service businesses to India.And its investment is estimated to provide employment to over 10,000 people.
At present,Wistron has two plants near Bengaluru that assemble Apple’s iPhone SE and iPhone 6S devices for sale in India.
Foxconn plans to support higher levels of manufacturing of existing clients such as Xiaomi and Nokia phones.
As per information, the government has already approved 193 of the 421 applications received under the modified incentive package scheme (M-SIPS), of which 144 have started incurring investments totalling Rs 9,252 crore.