Wistron, an original design manufacturing company for information and communication technology products plans to invest $165 million in its new establishment somewhere outside Bengaluru. The company is expecting more business from its clients like Apple in coming future.
Apple has been planning to shift a fifth of its production capacity from China to India and increasing its local manufacturing revenue mainly from its contract manufacturers, Wistron and Foxconn. The increase in revenue is expected to be of $40 billion over next 5 years.
The Taiwan-based company’s plant is set up in Narasapura which is 65 kms from Bengaluru. The plant received Rs 1600 crore which is way more than the expected Rs 900 crore in September. The latest addition will take the total valuation to Rs 2900 crore. The company source says that the clients are interested in upscaling production from India. Wistron has already occupied 43 acres in the Naraspura and only used 40% of it.
The investment comes at a time when India has made FDI norms easier in single-brand retail which co-incidentally Apple has been requesting for. Though the plant is not specifically for manufacturing Apple products.