BANGALORE: Apple’s manufacturer, Foxconn looks forward to a massive expansion bid in India creating 1 million jobs in the nation by 2020. As China gets pricey, the Taiwanese firm plans to set up 12 new factories in India, reports Financial Times.

Considering the increasing wage costs and labor disputes, Foxconn is planning a strategy change setting its sights on India despite being the largest private sector employer in China.

This move would bring employment opportunities for India’s vast pool of laborers as the company would set up factories in the rural areas. However, the poor infrastructure and complex labor regulations is a big limitation to overcome..

Despite these shortcomings, the Taiwanese manufacturer recognizes India as a huge potential with a new, more flexible approach to business and following PM’s “Make In India, Skill India” slogan.

This seem to help PM Modi to keep his word of providing employment to 10-12 million Indians. These significant plans would make India as the second largest production base of Foxconn.

“We have significant plans for India and we see huge potential in the country,” Foxconn Technology Group said. “This includes plans to establish 10 to 12 manufacturing facilities in the country by 2020, which would generate around 1m job opportunities.”

Hon Hai’s, well known as Foxconn, plans for an expansion in Indian market hints at low-end manufacturing from China to India to compete against Xiaomi.

“So this is a very significant move for Foxconn, but also for India itself, because Foxconn is an exemplar of the type of large-scale manufacturing facilities, which are well entrenched into global supply chains, that India needs to attract.” said Arun Maira, the former chairman of Boston Consulting Group, India.

In addition to this, the company will also set up small incubators in Hyderabad, Mumbai, Delhi and Bengaluru which would prove beneficial for the nation.

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