Tensions between India and China have been delaying the entry of Foxconn — which manufactures iPhones for Apple Inc. — in Maharashtra, said State Industries Minister Subhash Desai on Monday.
Mr. Desai while addressing a press conference at Mantralaya said, “The company had signed an MoU with the State government. Land was allotted but there has been no movement on that front as everything is on a standstill.” Mr. Desai said tensions between two countries have resulted in no development on the investment side.
Foxconn had signed an agreement as part of the Make in India Week in Maharashtra to set up an electronic manufacturing plant at an investment of $5 billion over five years.
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However, the MIDC said the State could lease only two sheds on the plot of land in Turbhe. Last week, the Congress had criticised the government saying since the BJP-led coalition took over, the State has been relegated to the third position in proposed investments.