Foxconn shift to India causes concerns in China

[Place Of Space]

We are basically where you guys were twenty years ago . If it will financially empower a hundred thousand odd poor, then I guess a restrained working environment is little sacrifice to pay for a climb up the ladder.Besides, Foxconn is not new to India. They had several thousand workers in their Chennai plant.They were part of one of Nokia's largest plants in the World in Chennai and were present for close to 10 years as contract maufacturers. Tax issues led the plant to its closure when Nokia was bought by microsoft, otherwise by now india would be manufacturing Lumia phones. Nokia tried to evade tax to the tune of 2 billion dollars. the Indian govt. would have none of that, and slapped a notice, and a slew of events followed which ended in the plant being excluded from the deal between Microsoft and Nokia

I think it has more relations with personality rather than personal economic situation.
Some persons like this kind of work, the work is not hard, has orderliness, group living, stable income, etc etc.
Some don't like: repeat same operations, boring daily life, assebling work, useless experiences, etc, ..

It's up to a guy's personality.

 

[Echo_419]

Foxconn shift to India causes concerns in China

Taiwanese firm Foxconn's decision to invest a whopping USD five billion in India has caused unease in China as it marks the first top international firm opting for India amid a slowdown in the Chinese economy.

By: PTI | Beijing | August 10, 2015 9:38 PM

Foxconn converted China the leading base for manufacturing of all top brands of phones and computers including Apple, Samsung, Dell etc. (Reuters)
Taiwanese firm Foxconn’s decision to invest a whopping USD five billion in India has caused unease in China as it marks the first top international firm opting for India amid a slowdown in the Chinese economy.

“Foxconn chooses India over China for new plant,” read the headline in state-run china.org.cn while carrying the news of the Taiwanese electronic giant signing up to set up a big plant in Maharashtra.

“Foxconn’s latest India investment represents the leading electronic product maker’s intention to profit from the world’s fastest expanding market of smartphones. Foxconn, famous for making parts for Apple, will reportedly produce Xiaomi phones in the new factory, a rumour that Foxconn authorities did not clarify or comment,” it said.

Despite the bad publicity over suicides in the past by Chinese employees owing to pressure and poor working conditions, China valued Foxconn’s massive presence as it employed over a million workers, who mostly hailed from rural areas with little education.

Foxconn converted China the leading base for manufacturing of all top brands of phones and computers including Apple, Samsung, Dell etc.

It will be the first leading investor to show interest to shift to India.
“The Foxconn-India deal also shows that India wishes to develop its manufacturing sector, as the rising labor cost in China is forcing away many investments in lower-end and labor-intensive industries,” the report said.

“At the same time, the Chinese government is encouraging its companies to take the opportunities brought by the

“Belt and Road” initiatives, and to invest overseas, a move which also helps absorb excessive industrial capacity back home,” it said.

China’s growth stood at seven per cent in the first half of the year with forecasts that it would slow down further.
The slowdown is causing concern as the world’s second largest economy which posted double digit growth rates for over two decades attracted massive foreign direct investment, (FDI).
The International Monetary Fund (IMF) in its recent forecast said China’s economy will slowdown to 6.8 per cent this year followed by 6.3 per cent in 2016 and six per cent for 2017.

Foxconn shift to India causes concerns in China | The Financial Express​

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