Foxconn CEO Terry Gou meets Modi, talks to Adani on iPhone JV
5 Aug 2015 6:53 AM IST
largest contract manufacturer Foxconn to form a joint venture (JV), which is likely to make iconic Apple iPhones in India. The firm in a BSE filing said: “We are at the discussion stage only and have not signed any agreement which requires disclosure under Clause 36 of the Listing Agreement.”
Foxconn Chairman and Chief Executive Officer Terry Gou met Prime Minister Narendra Modi earlier in the day and said Foxconn is in talks with billionaire Gautam Adani’s Group for electronics manufacturing facilities.
Sources said that Adani Enterprises will partner with the Taiwan-based Foxconn to set up a facility to manufacture Apple iPhones in India at Adani’s SEZ in Mundra, Gujarat and that the land component will be provided by the company.
Scrip rises by 11%; m-cap up Rs 1,056 cr
Shares of Adani Enterprises on Tuesday surged over 11 per cent following reports that the company is in talks with the leading contract manufacturer Foxconn to form a joint venture, which is likely to make iconic Apple iPhones in India.
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