Flex to invest US$ 500 mn in India
On Monday (November 4), US-based electrical and electronics component manufacturer, Flex, announced that it is planning to expand its business from China to other geographies, including India. These plans include investment of about US$ 500 million (over INR 3500 Cr) to increase its manufacturing capabilities in India, and also increase its exports from India to other markets.
The decision comes at a time when China & US are embroiled in a trade war that is affecting US-based companies in China, and vice versa. Experts also believe that India has to take a quick decision and come up with a policy to compete with Vietnam and Malaysia.