MAHARASHTRA, INDIA – Foxconn will not set up its manufacturing units here, according to reports, while the firm resolves issues with proposed investments worth ₹30,000 crore (crore = 10 million).

“There is no chance of Foxconn exercising its commitment for investment in the state, as it is facing some problems related to its business,” said state industries minister Subhash Desai. “The decision will not have a direct impact on the consumers, but manufacturers of electronic gadgets may be affected.”

In 2015, Foxconn showed interest in building manufacturing sites here, signing a memorandum of understanding to invest some $5 billion over five years. The plan, however, did not materialize, according to reports.

Ed.: US$1 = ₹71.16

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