Foxconn to invest in India $ 5 billion

According to the source, Foxconn intends to invest in the development of business in India of about $ 5 billion, as the company wants to make this country an ideal production centre after China.

One of the reasons that Foxconn intends to increase investment in the Indian market, are the tax concessions introduced by the government to local manufacturers of mobile devices and accessories that will improve production within the country.

Moreover, last Saturday, the government imposed an additional 10-percent customs duty on import of mobile phones, components and accessories, including chargers, headsets, batteries, and so on.

The main direction in which Foxconn will invest — the production of displays. It will spend $ 3 billion. The process of investing these funds will begin next year.

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