The Indian government has been trying to seduce companies into moving from their home countries for a while now. India is known for having a highly skilled work force and the wages are not exactly high. The Indian government’s efforts seem to be working as Chinese companies are starting to flock to India.
Foxconn has just announced that it will invest $5 billion in a new factory and other facilities in Maharashtra, western India. By 2020 they plan to have 12 facilities up and running in the country.
Other companies are also following suit too. Xiaomi should be announcing as early as Monday a new factory that makes mobile phones. Huawei Technologies has recently received a security approval to start manufacturing network equipment in the country.
The future is looking bright for India.
Via: IT World