‘Mumbai’ has a latest reason to smile. Taiwanese company Foxconn is all set to invest Rs. 50,000 crore by setting up a new unit in ‘Pune’. Confused between Mumbai and Pune? Keep reading, you will come to know why Mumbai have reasons to be happy, though the unit will be in Pune. The company has signed MOU with Government of Maharashtra for an electronic manufacturing plant in Pune within the 5-year period. It will create over 50,000 jobs. On the other hand, it will give a rise to the Indian economy.
About Foxconn
To tell more about Foxconn, it is an electronics contract manufacturing company headquartered in Tucheng, New Taipei, Taiwan. It is the third-largest information technology company by revenue. It is the most reputed electronics contract manufacturer.
About Foxconn
To tell more about Foxconn, it is an electronics contract manufacturing company headquartered in Tucheng, New Taipei, Taiwan. It is the third-largest information technology company by revenue. It is the most reputed electronics contract manufacturer.
image source: thenextweb.com
Basically, it manufactures for major European, American and Japanese electronics and information technology companies. Its notable products are iPhone, Xbox One, BlackBerry, Kindle, PlayStation 4, iPad, and Wii U.
Early Cross-Checking
Initially, Foxconn was unwilling to invest in India as they felt that sufficient skilled manpower was not available in the country. Nevertheless, the company changed its mind after they visited Indian Institute of Technology (IIT) Mumbai. What their team found is motivating to know. They loved meeting the aspiring talents of India studying in IIT, Mumbai.
Initially, Foxconn was unwilling to invest in India as they felt that sufficient skilled manpower was not available in the country. Nevertheless, the company changed its mind after they visited Indian Institute of Technology (IIT) Mumbai. What their team found is motivating to know. They loved meeting the aspiring talents of India studying in IIT, Mumbai.
“This is the reason why Mumbai should be proud of and smile.” The company found enough reasons to stay in India and the deal then took its finalization in the form of signing MOU. As Pune is their favorite destination, it would ease them to get the best talents from Mumbai without much struggling due to the close establishments.
Side-Benefits
Foxconn also decided to help state in upgrading the Pune airport as the company will require a huge cargo facility while setting up the unit and further. Ultimately, it would be benefitting the transportation facilities as well. This investment will bring in a significant amount of FDI.
Side-Benefits
Foxconn also decided to help state in upgrading the Pune airport as the company will require a huge cargo facility while setting up the unit and further. Ultimately, it would be benefitting the transportation facilities as well. This investment will bring in a significant amount of FDI.
image source: dnaindia.com
Future Considerations
The company is aiming to develop 10-12 manufacturing facilities and data centers in India by 2020. It has also tied up with Xiaomi, Chinese smartphone maker, to start assembling phones in India. They have plans to establish units in Aurangabad and Nagpur.
Final Say
As this latest deal will create manufacturing units in Mumbai-Pune belt, it will serve Mumbaikars and Pune residents with lots of job vacancies in Mumbai and Pune. Moreover, anyone who will come to this city can easily locate several jobs in near future.
The company is aiming to develop 10-12 manufacturing facilities and data centers in India by 2020. It has also tied up with Xiaomi, Chinese smartphone maker, to start assembling phones in India. They have plans to establish units in Aurangabad and Nagpur.
Final Say
As this latest deal will create manufacturing units in Mumbai-Pune belt, it will serve Mumbaikars and Pune residents with lots of job vacancies in Mumbai and Pune. Moreover, anyone who will come to this city can easily locate several jobs in near future.
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