The initial investment for this project is estimated around $2 billion (Rs 12,700 crore) over the next five years. Besides Xiaomi products, Foxconn is also planning to start manufacturing Mobiles, TV’s, Tablets and other electronic gadgets in the country in the coming days. Foxconn client list includes HP, Dell, Cisco, Dell, Microsoft, Kindle for Amazon and few of the Apple products. There are many reports that are surfacing online regarding the iPhones manufacturing plant in India but that seems to be a long shot for now as it requires heavy machinery and massive equipment, Foxconn might stall the iPhone plans for India. Not just Andhra Pradesh, Foxconn is also exploring other states like Maharashtra, Gujarat, Telangana, Karnataka and Uttar Pradesh, for establishing the factories and the discussions for the same are already started. A Couple of days ago LG has announced that it is investing Rs. 1,000 crores for R&D in India provided that company sale shares touch 10% of the Indian market. Micromax, Motorola, Karbonn, Asus, Microsoft are also in the line to establish their own plants in India. This is good news for Indian markets as it reduces the cost per unit and also creates employment opportunities in the coming days.
Foxconn to Start Manufacturing Xiaomi Smartphones in Sri City, Andhra Pradesh
A couple of weeks ago we heard news that Foxconn might start iPhone manufacturing plant in Maharastra also company has officially announced its plans to begin manufacturing plants in India. A report from ET says that Foxconn is going to start manufacturing Xiaomi smartphones in Sri City, Andhra Pradesh though the plant may not be the biggest, but it will have the capacity to produce 10,000 smartphones per days. Foxconn is also planning to start 10-12 such plants in India across various cities so that it can also provide employment for 10,000 people in each city depending upon the requirement.