 "The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in Tucheng, New Taipei. Photo: Reuters")
The wait continues for global electronics manufacturing giant Foxconn to get going with its $5 billion investment plan in Maharashtra.
It is close to 11 months since it signed an agreement with the state government.
However, it has yet to apply for land, for a research and development and manufacturing facility. The government has already notified, for the purpose, 2,000 acres in Khopoli (Raigad district) and 600 acres at Chakan, Talegaon (in Pune district).
Besides, the company, which had taken on lease 150,000 sq ft at Mhape, Navi Mumbai, for production of mobile phones has yet to begin there. Earlier, Foxconn had given March and later June as the deadline for starting production from the plant.
In an e-mail response, a Foxconn Technology Group spokesperson told Business Standard: “Our significant plans in India will be rolled out in phases over the next five years. This includes a pilot site in Maharashtra, which will begin manufacturing mobile phones later this year. Foxconn is working closely with the government of Maharashtra...we will continue to consider investments in India when they make sense commercially and when they are consistent with the needs of our customers. Details regarding any new investments will only be announced once decisions have been made and all necessary approvals have been received.”
The state government is also restless due to Foxconn’s recent push on investment in Odisha and the company’s talks with the government of Tamil Nadu on a takeover of Nokia’s closed unit there.
The company spokesperson added: “One of the key global growth markets is India, where we have had a presence for over eight years and amassed a substantial amount of in-market knowledge and expertise. We have significant plans for India and we see huge potential in the country as the government pushes ahead with the Make in India, Digital India, Skill India and Clean India national programmes. And, we are encouraged by the productive dialogue we have had with key stakeholders, including relevant government officials and industry partners.”
