Taiwanese Cos Sets Up Shop In India

[abhay 0]

Taiwanese cos sets up shop in India

Close on the heels of Finnish mobile handset maker Nokia announcing its manufacturing plans for India, a Taiwanese rival is in talks with the government to set up shop in the country.

"A Taiwan-based handset manufacturer, who has large investment in China, held talks with us... they are looking at Tamil Nadu and would invest a couple of billion dollars in phases," Department of Industrial Policy and Promotion Secretary Ajay Dua told reporters on the sidelines of India Economic Summit 2005.

Nokia too would be setting up the facility in Tamil Nadu.

Refusing to name the manufacturer, he simply said that the company had a large manufacturing facility for handsets in China and that they were looking at setting up similar facility in other places too.

Earlier making a presentation at the summit, Dua said he expected 100 million more new telephone connections to be added in next three to four years.

India, which is home to over one billion people, has a tele-density of just 10.66 per cent. The government hopes to double this figure in the next three years.

He said the country was attracting a lot of investment in manufacturing sector including steel, automobile and telecom equipment and FDI inflow has increased by 17 per cent during the first six months of this fiscal compared to the year-ago period.

Dua hoped that foreign investment inflow would increase by at least 20 per cent to touch $6.5 billion compared to last fiscal's $5.3 billion.

http://economictimes.indiatimes.com/articl...254,curpg-1.cms

[ashoksoft 83]

So with latest news ... only this taiwaneese seems to be ready to invest over here. Coz Nokia sure is still sitting firm on China ~

[linuxguy 0]

Hopefully manufacturing sector will take off like the IT industry! Then India will be truely unbeatable . I think we are nearing the "critical mass" where demand goes on just INCREASING....