Japanese electronic firm Sony is planning to ‘Make in India’. However, Sony is not looking to manufacturing on its own, the products will be contract-manufactured at Taiwanese maker Foxconn’s upcoming facilities in the country. In 2004 Sony had stopped its practice of local sourcing due to relatively smaller business size in India, and it decided to import its products.
Sony India MD Kenichiro Hibi said, “There are many possibilities that we are looking at (for making in India). Contract manufacturing is one of them. However, we are yet to decide.” Sony however will not entail heavy investments and will leave the company with an option to set up an independent manufacturing location in the future.
Foxconn has all decided to start manufacturing in India, where it will make products for companies such as Xiaomi and Apple. The company has zeroed down on Sri City of Andhra Pradesh for its manufacturing operations, as reported by TOI.
Presently, Sony sells its products such as mobile phones, televisions, laptops, cameras and other electronic items, which it imports from Thailand, Malaysia, China and Japan.
Finance Minister Arun Jaitley had planned incentives for local manufacturing to promote government’s ‘Make in India’ initiative. The new initiative will help boost employment in India.Category Business