Changed priorities? Foxconn has invested only in four Indian startups so far
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It was in August last year that
The deal, which was estimated to be worth $65-70 million (Rs 430-460 crore), would have been its second-largest investment in an Indian start-up, since it had already invested $200-million in online marketplace Snapdeal.
However, it’s been ten months and the deal is pending.
Even though the Taiwanese company had announced striving plans for India, it has only invested only in four Indian start-ups ever since.
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A reason behind Foxconn's change in this strategy could be its $3.5-billion takeover of Japanese electronics manufacturer Sharp, as the deal involved last-minute disclosures and stiff competition from other suitors. Fall in global tech stocks could also be one of the reasons behind this.
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