News Buzz

Firms await export duty clarity

New Delhi is in a fix after the recent WTO ruling which required India to roll back its export sops under the MEIS scheme. Josh Foulger, Managing Director of Foxconn, the world’s largest contract manufacturer told reporters: “India Cellular and Electronics Association (ICEA) is following up with the government … we are one of the larger players in India and are looking forward to a positive direction from the government.” India has challenged the ruling, further creating ambiguity for the stakeholders.

Foxconn’s plans to expand its manufacturing capabilities in India depends on getting more clarity on this issue.