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HomeBusinessFoxcon, Wistron and Pegatron may invest INR66 billion in India in the next 5 years

Foxcon, Wistron and Pegatron may invest INR66 billion in India in the next 5 years

06 October 2020: Foxcon, Wistron and Pegatron – Apple’s three contract manufacturers plan to invest about INR.66 billion (USD 900 million) in India in the next 5 years to set up units under the new production-linked incentive plan (PLI).

As reported earlier, the Government of India has sought applications for ?50,000 crores under the Production Linked Incentive Scheme to attract global mobile device manufacturers and boost local companies for electronics manufacturing. Under the PLI scheme, the government will give out about Rs.40,951 crore in a graded manner to these domestic and global manufacturers in the next five years.

As many as 22 companies had filed their application under the Production Linked Incentive Scheme (PLI) Scheme. The international mobile phone manufacturing companies that have applied under Mobile Phone Segment are Samsung, Foxcon Hon Hai, Rising Star, Wistron and Pegatron. Out of these, 3 companies namely Foxcon, Wistron and Pegatron are contract manufacturers for Apple iPhones.

Pegatron Corporation, the second-largest contract electronics manufacturer in Taiwan, is expected to set up a unit in India for Apple iPhones assembly, as per a widespread media reports. With abundant product development experience and vertically integrated manufacturing,

Pegatron offers innovative design, systematic production and manufacturing services. It has combined EMS and ODM industries to become an emerging Design and Manufacturing Service (DMS) company.

Foxconn (Hon Hai Technology Group) is reported to have chalked out a plan to invest USD1 billion to enhance its manufacturing facility in India, following a reported strong request from Apple. The investment will create over 6,000 jobs in the next three years. As of 2012, Foxconn factories manufactured an estimated 40% of all consumer electronics sold worldwide. The group has a presence in over 20 countries; currently, it has 30 per cent of production outside of China, up from 25 per cent one year ago. The company is eyeing several new locations, including India, Vietnam, Mexico, Brazil, and the United States.

Reportedly, Wistron assembles about 200,000 second-generation iPhone SEs per 30 days in India. It now plans to scale it up to 400,000 a month.

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