With Foxconn likely to expand an iPhone plant in India worth 1-Billion, Google announces a commitment of 10-Billion in India
On Friday Patently Apple posted a report titled "Foxconn is Considering an investment of US$1 Billion to Expand their current iPhone Plant in India to support Apple's Gradual Shift from China." Our report noted that "India is also working to boost electronics manufacturing by firms such as Foxconn and last month launched a $6.65 billion plan, offering five global smartphone makers incentives to establish or expand domestic production."
While Google is unlikely to be one of the five smartphone OEM to receive incentives, the coincidence of Google committing to invest US$10 billion in India over the next five years is indicating that India is giving U.S. companies incentives to make India an important global technology hub that could one day challenge China.
Chief Executive Officer Sundar Pichai made the announcement at Google’s annual India event via video conference. He said the outbreak of the coronavirus has made clear the need and importance of technology.
Google, according to Bloomberg, is committed to building new products and services that are relevant to India’s unique needs and empowering businesses as they continue or embark on their digital transformation.
With Apple, Foxconn and Google showing signs that India is going to be the next big market, other U.S. companies and some of Apple's supply chain will likely ramp up their projects over the next five years of opening plants in that country. In 2021 Apple will be opening their first major flagship store in India which will mark the beginning of a new era in India that has to be worrisome for Communist China.