Foxconn recently announced that it is Watch The Tax Collector Onlinecollaborating with the Indian tech giant HCL (Hindustan Computers Limited) to establish a new joint venture for chip packaging and testing operations in India. The partnership with HCL signifies Foxconn’s strategic shift towards the Indian market. The Taiwanese firm will own a 40% stake in the new joint venture with a $37.2 million investment. Foxconn’s Indian subsidiary, Mega Development, plans to establish an Outsourced Semiconductor Assembly and Testing (OSAT) center in India, while Foxconn is expected to invest another $1 billion to build a new plant in India dedicated to producing Apple products. Known for its engineering design and manufacturing expertise, HCL has been actively involved in discussions with the government of Karnataka, India, around the establishment of the new OSAT center. [IThome, in Chinese]
