Foxconn cancels plans for $5 billion investments in India

08 January 2020
The company failed to pen a deal with government authorities.

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Foxconn did the same thing in usa. They like to tease the locals and see what they can get for free than cancel. Karma will get them.

  • Anonymous

Sonu4678, 08 Jan 2020Ruined it!? That's how it should be. If you want to set up ... moreMake in India is a failure

  • Lance

I am from Taiwan that is Foxconn coming from. We know Foxconn Terry very much, he is a liar. He event tried to run for president of Taiwan with pro-China policy. How can he run business without fully concentration? Pro-China inside his hear might be dangerous to US.
Please understand this guy can not be trust.

Vj02, 08 Jan 2020State govt's law of "mandatory for locals to get 80% quota ... moreRuined it!? That's how it should be. If you want to set up factories then the locals are the ones who should get the jobs. Unfortunately, it's a loss for both parties. The government should not bend the rules to suit the big guy in the room.

State govt's law of "mandatory for locals to get 80% quota in jobs" ruined it! What a shame

  • Anna

After getting all the tax incentives and subsidies from Govt of India under Make in India initiative, Apple was not ready to pass on these benefits to end user and had decided to use this saved money for future expansion in India. Due to difference in currency conversion rate, local taxes, import duties and tariffs, final price for consumers goes to double in some cases. We were paying the same price as if it was imported from outside India. So, this news makes no difference to consumers as they will still pay the same higher price for all Apple products.

Foxconn has been conning many governments around the world with promises of investment. For way tpo long. They only say these things, to drive up their share price.

  • I'mPhone

Really, Crapple must find a new spot for their factory. The US-China trade war is just increasing the price for Crapple products. If the iPhone was manufactured in let's say, Vietnam (like some Samsung phones), the price would substantially decrease. The iPhone 11 price already went down but that's not enough.

  • AnonD-844557

The New Factory In India Was Just A Measure To Increase iPhone Sales In India. Good Job Apple

  • Anonymous

Back to made in China . Bad call India lots dollies lost

  • Anonymous

Sanan, 08 Jan 2020Here goes "make in India" down the drainWho cares, Hon Hai are notorious for wanting lots of incentives but not many jobs! Just ask Trump & his grand plans to bring back manufacturing in the US, if anything what we need is more taxes for the uber rich & mega-corps like Foxconn 🙄

  • Akshay_Black

Seriously in all of india the government couldn't give them just 44 acres at a reasonable price and location?

Here goes "make in India" down the drain