Indians will probably see a huge intake and job offers from Foxconn. Apple is being assembled and manufactured by the Foxconn company in India. The huge demand for the products and Apple’s aim of increasing the prosecution of Indian industry will lead to a huge increase in workforce and investment. This article talks about it in details.
What is the company Foxconn planning?
It is believed that by next year, the Indian Foxconn production house will receive a huge investment, which will lead to an increase in the workforce. Foxconn is a Taiwan based manufacturing company. This electronics manufacturing company is growing on a massive scale in the Indian market. It is currently based in the southern part of the country and is investing in manufacturing.
The company is in the process of moving away from China and is trying to form a huge base in the Indian market. They are expected to invest in huge scale in the Indian market soon to increase the scale of production. In a LinkenIn posts by the company’s representative it was stated that the company is aiming to increase intake in its workforce.
What is this investment about?
The post was released on the occasion of India’s Prime Minister’s 73rd birthday. The post mentioned that the company is aiming to double the recruitment. The employment of the company will double, which will create a huge scope for the Indian public. It is also aiming to double its foreign direct investment.
What is the main AIM of the investment?
The main aim of increasing the investment and increase in employment is to increase the scale of production in India. The company is trying to increase its size in the Indian market. The timeline which the company aims to do this by the end of next year. Thus, we can assume that the investment and the recruitment will be introduced very soon in the Indian division of the company.
How are they planning to grow?
As we know, Foxconn is based in the state of Tamil Nadu in India. The company currently employs around 40,000 people which aims at making the iPhone. It is currently an iPhone factory which is one of the biggest suppliers of iPhones in the world market. However, we saw that in August, Karnataka announced that Foxconn would soon invest around $600 million in making casing components for the iPhone.
It is announced by the state of Karnataka that Foxconn will invest a huge amount of $600 million for two projects. These two project will mostly focus on making the casing component of iPhone and chip-making equipment. This huge amount of investment will create a huge jobs. The number of employees will as well increase, creating a huge beneficial factor for Indians. We come to know that around $350 million will be used in forming the iPhone component unit. This roughly becomes around 2890 crore which will be used in setting this up which in return will also create around 12,000 jobs.
How much investment are they going to bring in India?
Foxconn will also tie up with Apple Materials which will again generate around $250 million investment. They will be tied up aiming to make chip-making tools. They will together create this project of around 2064 crore in Indian rupees. This information was provided to us by the government.
Will this effect in a good way or will this lead to something bad?
The company’s chairman said in one of the interviews that India brings a huge potential for the company to explore. They will have a long term plan with India. They are trying to build up a huge base in the Indian market to which these billions of investments are just starting. He is planning to grow in size in India. The aftermath of this whole relationship is still a mystery, as the most these manufacturing companies build up in India, the more India gets harmed environmentally, just like China.