Category: Business Expansions

Foxconn to begin assembling Apple iPhones in India by 2019.

Taiwanese multinational electronics contract manufacturing company, Foxconn Technology Group will invest well over Rs 1,500 crore to have new production lines to manufacture certain iPhone models in its factory in Sriperumbudur near Chennai, according to an ET post. Currently, Wistron, another Taiwanese smartphone manufacturing company makes Apple phones such as the iPhone 6S and SE models in Bengaluru in…

IKEA signs MoU with UP, plans to invest Rs 5,000 crore.

The world’s largest furniture retailer IKEA is planning to invest Rs 5,000 crore in Uttar Pradesh. IKEA, which is planning to set-up a large format store in Noida, has signed a memorandum of understanding (MoU) with the Uttar Pradesh government for opening stores in the state. The investment would create over 8,000 direct and indirect job opportunities…

Ashok Leyland opens new 3S facility in Bangladesh.

Ashok Leyland, the flagship of Hinduja Group, on Tuesday announced that it has set up a new 3S facility IFAD Autos in Dhaka, Bangladesh. The sales, service and spares facility, spread across 1.38 lakh square feet, is located at Madanpur, Narayanganj district on the Dhaka Chittagong highway, the city-based company said in a statement. “With…

Schaeffler Group to invest Rs 1,000 crore more in India.

Schaeffler Group, the German-based manufacturer of rolling element bearings for automotive, aerospace and industrial uses, has planned to invest an additional Rs 1,000 crore in its Indian operations over the next three years. Recently, the firm completed its merger with Ina Bearings India and LuK India, which was announced back in August 2017. The firm is…

Amazon to open a new office in Manchester, plans to create more than 1000 jobs in the UK.

Amazon, the American e-commerce giant and cloud computing company has decided to open a new office in Manchester and will be creating more than 1000 jobs in the fields of research and development in the UK. The new Manchester office will be house at least 600 new employees working on software development, machine learning and research and…