INSUBCONTINENT EXCLUSIVE:
BENGALURU: Taiwanese agreement production giant Foxconn has stated it did not enter into any binding, conclusive contracts in India during
its chairman and ceo Young Lius current see to the country, AFP reported on Saturday from Taipei
The Foxconn declaration appeared to be in response to announcements made by the governments of Karnataka and Telangana in the past few days
that suggested that large investment offers by the iPhone maker in their particular states had been finalised
Negotiations and internal review are ongoing
Monetary investment sums gone over in media are not information being launched by Foxconn, the business said
It also stated the employment figures that were reported do not equate to direct tasks with the company
Both Karnataka and Telangana had stated that the Foxconn jobs in their respective states would generate one lakh jobs
However it wasnt clear whether those would be direct tasks, or whether those included indirect ones.TOI had actually reported properly that
the Karnataka government and Foxconn had signed a letter of intent to develop a significant center in Bengaluru, which the state federal
government had shown the visiting delegation a 300-acre website near Bengaluru worldwide airport
A letter of intent is not a definitive agreement.However, Karnataka government officials revealed confidence that the financial investment
contract was just a matter of time
I can just mention this much, Foxconn will come to Karnataka and the groundwork is being finished for the purpose, state IT/BT minister CN
Ashwath Narayan said.A markets department official said the state top-level clearance committee (SHLCC) - which needs to clear all large
projects - is expected to offer Foxconn clearance for the 300 acres near the airport when the committee meets in the coming week
We expect the manufacturing system of the company to be set up as early as next year, the department authorities said.The department
likewise stated there was no faux pas in Karnataka chief minister Basavaraj Bommais declaration of one lakh tasks being created since that
number is discussed in the letter of intent.
