As per reports Foxconn is looking forward to manufacturing Apple phones in India. This is on account of rising wages in China eroding the low cost manufacturing advantage the country provided. The company will be sending a team to scout for locations to establish facilities for manufacturing iPhones,iPads and iPods.
This will be a boost for Narendra Modi’s Make in India campaign as well. It will lead to employment of people in the manufacturing space as well as rush of suppliers to avail to the needs of the company. India is world’s No. 3 smartphone market and world’s No. 2 mobile phone market behind China.
Now what advantages could it have
1) Lower prices due to reduction in costs
2) Early launch because of local manufacturing
3) Development of supplier industries
5) Increase in exports
I think No. 1 would be a great delight for all of us😁
Foxconn has held meetings with the Prime Minister and the Telecom Minister to display it’s interest in the ‘Make In India’ plan by committing to invest around 2 billion dollars in the next five years to build 10 manufacturing facilities.