Taiwanese multinational electronics contract manufacturer Foxconn is set to ramp up its production facility in India to breach the $400 billion electronic manufacturer mark by 2025.
According to Foxconn International Holding, India country head Josh Foulger, the company aims to gain a large part of this growth by export and improved domestic consumption. Describing India as a large market, Foulger said that India has a ‘leg-up' in terms of talent and cost.
Foulger while announcing his support for the National Policy of Electronics, announced by the Centre last year asserted that the move has helped the company significantly. Foulger was speaking at an online event to celebrate the Life, legacy and ideas of Faqir Chand Kohli, the first CEO of Tata Consultancy Services.
“We will see the increased design, I would say, integrated design work, where people really look at productization. There will be large companies, there will be medium-sized companies and there will be startups,” Foulger said adding “We will be looking at multiple tiered supply chain development happening, which will be enabled by the government, and also enabled by large and medium scale.”