Thursday, February 22, 2024

This Taiwanese company will invest Rs 1200 crore in India, will help the biggest donor

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Taiwan’s largest company Foxconn is not a new name for India. Apple’s largest manufacturer Foxconn is trying to establish its foothold in India more strongly. For this, the company decided to enter semiconductor business in India. For which first the company partnered with Vedanta, but later Foxconn had to leave Vedanta. The news that has come now is very surprising.

Foxconn has joined hands with the country’s largest philanthropist company. Whose company will work together with Foxconn on semiconductor chips. Even Foxconn has announced an investment of Rs 1200 crore to set up its factory. Let us also tell you that Foxconn will work on ‘Semicon’ in collaboration with the country’s leading businessman and donor’s company.

shook hands with this legend

Taiwanese electronics major Foxconn has invited bids to build a chip assembly and testing plant in India in partnership with HCL Group, according to a regulatory filing. The company has decided to spend Rs 1,200 crore as initial investment for this project. Foxconn said that it is going to set up the plant on its own land, which it has already purchased. Also, it has been said on behalf of the company that this bid has been invited by Foxconn Hon High Technology India Mega Development Private Limited.

Partnership with HCL Group

Earlier this month, news came out that Foxconn is partnering with India’s HCL Group to start a chip packaging and testing venture in the country. The company said Foxconn, a unit of the Taiwanese contract manufacturer, will invest $37.2 million for a 40 percent stake in the Hon High Technology India Mega Development Joint Venture.

Foxconn, the world’s largest assembler of iPhones and other electronics, is expanding in India due to geopolitical tensions. Also, due to the ever-increasing economic uncertainty in China, working has become very difficult. Foxconn is the largest maker of iPhones in India, with 68 percent share in total production. After this Pegatron 18 percent and Wistron [टाटा] Is 14 percent.

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