With an investment of $37.2 million, Foxconn plans to recruit 200,000 employees!
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Foxconn and Apple are closely linked, and Foxconn will certainly follow behind it until its market becomes valuable. Foxconn also relies on large customers, and their large orders are also their advantages. For example, in India, Foxconn has followed in Apple's footsteps and set up many production plants to produce iPhones, and has increased its investment in iPhones.
More than that, Foxconn continues to expand the Indian market by investing 37.2 million yuan and adding 200,000 employees! Foreign media: Foxconn will be determined to leave. What is Foxconn's plan for the Indian market? Foxconn's conditions for doing business in India are terrible, can it win?
Foxconn will expand in India.
India has adopted a program aimed at getting more businessmen on board"Made in India"policy measures, and greatly promoted the production of mobile **. It has been reported that India has lowered the import duty on mobile devices such as SIM card slots and metal devices from 15% to 10%.
Suppliers in the Indian plant are more profitable because they can source inexpensive moving** parts from abroad. Such a system design is a good thing for Foxconn, and it is clear that India has already tasted a little sweetness with foreign companies like Apple and Foxconn, so more compromises are being made.
Mr. Modi is said to have not done his best to invest in India and ban Foxconn from entering India, but he is still expanding the Indian market. It is reported that Foxconn will spend 37.2 million yuan to build a new semiconductor packaging and testing plant with India's HCL company.
In addition, Foxconn has also increased investment in its production base in Bangalore, India, and its first assembly line is expected to be completed in April, which will greatly increase iPhone production capacity. With this huge investment, Foxconn India is expected to increase the number of employees to 200,000.
The foreign ** is very clear: Foxconn is determined to move from chips to mobile**, while Foxconn intends to swallow India's major production sector in one gulp, and it may take more time than just producing a car.
Is Foxconn's expansion into India really feasible?
Foxconn's presence in India is broad and significant. By setting up manufacturing plants, R&D centers and branches in India, Foxconn is better able to adapt to the needs of the local market and improve its international competitiveness. Although the Indian market is known for its low labor numbers and seemingly good policies, business conditions in India have not been good.
Foxconn knows that it is in danger, but will it really win by entering India?
I guess that's impossible. In India, Foxconn is facing a number of challenges. Finding and training skilled workers is a challenge. There are also costs to consider (including labor, land, and equipment). India's politics and regulations have had an impact on the conduct of foreign companies.
Foxconn needs to comply with local labor laws, environmental laws, and intellectual property laws. In addition, some policies and restrictive measures adopted by some countries in India for foreign-funded enterprises will also have a certain impact on Foxconn's business.
But Foxconn did not follow India's requirements, because in India, there are many foreign companies that operate in accordance with local laws and regulations. In the end, India found out about it, and either it was suspected of tax evasion or money laundering, and there was always a valid excuse for India to crack down on foreign companies.
Foxconn has decided to make a break in the Indian market, and it's time to get ready.
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