Foxconn to invest $5 billion to set up facility in Maharashtra.

Taiwan-based Foxconn, the world's largest contract manufacturer of electronics, recently signed a memorandum of understanding (MoU) with the Maharashtra government, to set up its manufacturing facility in the state. The firm will invest $5 billion over five years to set up a unit between Mumbai and Pune, Foxconn founder Terry Gou and Maharashtra Chief Minister Devendra Fadnavis said recently. Foxconn makes devices for Apple, Huawei, Xiaomi, Black Berry and Motorola. Foxconn Technology Group chairman and CEO Terry Gou had on Wednesday announced the company was bringing the entire supply chain to India and not looking just at assembling in India. He also said Foxconn was looking at 10-12 manufacturing units in India. The cumulative investment is expected to be $2 billion.