Taiwan’s Foxconn will invest $1.5 billion in India in its latest expansion plan which the world’s largest contract manufacturer of electronics said on Monday. Actually the company announced the investment plan in a stock exchange filing and did not provide any further details. In reality Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country which is actually a great deal. The contract manufacturer aims to double its workforce and investment in India by next year which a company executive had said in September. The company’s Chairman Liu Young-way had also said that he sees a lot of potential in India and several dollars in investment is just a beginning.
If you see this news it is very good for India as it shows how India is developing. Today India comes among top five economies and developing in very fast pace. This type of initiative will bring lots of changes as it will create many jobs. People need to respect it as India is future of the world and it is going to become a developed country. Actually foreign company sees a very great market in India and they want to invest here as it is beneficial for everyone.
