Taiwan’s Hon Hai Precision Industry is investing US$5 billion to set up new factories in the western Indian state of Maharashtra. That’s according to Indian government officials on Saturday.
Hon Hai, which trades as Foxconn Technology Group, is the world’s largest contract electronics manufacturer. Its clients include Apple, Blackberry, Xiaomi, and Amazon.
An Agence France Presse report says that Hon Hai’s CEO Terry Gou and Maharashtra Chief Minister Devendra Fadnavis signed an accord in India’s financial capital Mumbai.
Fadnavis said on Twitter that the deal will create 50,000 jobs.