Plan B: Foxconn boosts its investments outside of China and will add 100,000 jobs in India

Plan B: Foxconn boosts its investments outside China and will add 100,000 employees in India (REUTERS) (ANN WANG /)

Taiwanese electronics company foxconn has confirmed this Thursday a new investment in Indiathis time, in the State of Telangana. Although it has not been revealed how much money will be sent to this central region of the country, the local government has estimated that some 100,000 jobs as a result of it.

The announcement of the company -also known as hon hai in his country of origin and in China – follows the multiple setbacks who have had to face in recent months after the strict policies implemented by the Beijing regimewhere it operates its largest iPhone assembly plant, and which have led to delays and lost money.

That is why Foxconn executives have decided expand the production of their products through the Indian subcontinent to, thus, diversify its international presence and its supply chain.

The investment exposes the company's search to expand the production of its products throughout the Indian subcontinent and diversify its international presence (REUTERS)
The investment exposes the company’s search to expand the production of its products in the Indian subcontinent and diversify its international presence (REUTERS) (Ann Wang /)

Along with this, the multinational is expanding its business towards the market of electric cars and the components necessary for its operation.

The agreement was reached after a meeting that brought together the president of the company, young liuand the Chief Minister of Telangana, Kalvakuntla Chadrashekar Rao.

This is not, however, Foxconn’s first landing in India. At the same time as this announcement, weeks ago, the state of Karnataka He had anticipated that he was also in talks with the company for investment plans, for which he would become the third estate Indian to host the Taiwanese.

Along with its landing in India, Foxconn bets on the electric car market (REUTERS)
Along with its landing in India, Foxconn is committed to the electric car market (REUTERS) (ANN WANG /)

“We look forward to a fruitful collaboration. We remain committed to welcoming the best companies to the State and reaping rewards from our people”, the State’s Chief Minister had declared at the time. basavaraj bommai.

This is in addition to the efforts of the country’s prime minister, Narendra Modifor promoting a support program for local industry and numerous tax incentives that have attracted other Taiwanese companies such as Wistron or Pegatron to India.

Foxconn’s problems in China

Due to the policies of Covid-Zero implemented by the regime Xi Jinping Since the start of the pandemic – and which were reinforced at the end of 2022 by the new outbreak registered there – Foxconn faced a series of confrontations with its employees.

In response to the rise in virus cases and the need to continue producing at the usual rate given the strong demand for its flagship Apple products, among others, the plant in Zhengzhou arranged a “closed circuit” in which employees had to live in the same complex where they worked.

This is how infections were prevented given the zero contact with the outside. This, which managed to sustain itself for 56 long days, led to the flight of many of the workers, who refused to accept such conditions.

Given this, Foxconn announced important benefits for new employees who denounced that, upon arrival, they discovered that it was a complete lie just to attract them to the property.

(With information from Reuters and Europa Press)

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