1. Home >
  2. Export Import News >
  3. SEZ >
  4. Many units in Nokia Telecom SEZ may reopen by March 2020 >
  5. Many units in Nokia Telecom SEZ may reopen by March 2020

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Many units in Nokia Telecom SEZ may reopen by March 2020.

Date: 27-11-2019
Subject: Many units in Nokia Telecom SEZ may reopen by March 2020
CHENNAI: The Nokia Telecom Special Economic Zone (SEZ) near Chennai is expected to see a revival, with most shuttered units inside the 212-acre cluster likely to recommence production by March next year, according to industry executives.

Tamil Nadu government officials said there is a scramble for land, or brownfield set-ups, from electronics manufacturers in the state, thanks to the trade war between the United States and China.

“Flex, previously Flextronics, and one other company expressed interest in the Nokia factory, but it finally went to Salcomp,” said a senior government official.

The development comes nearly five years after a huge tax demand shut down one of the largest phone factories in the world, in October 2014, that saw job losses, leading to a domino effect in factory shutdowns in the electronics manufacturing industry.

Last week, Finnish company Salcomp, acquired by Chinese firm Lingyi iTech, sealed a deal to buy the one million sq ft Nokia factory inside the SEZ. Salcomp had also recently purchased the 300,000 sq ft unit of Lite-on Mobile factory inside the special economic zone.

Taiwanese phone maker Foxconn, which has an idle unit inside the SEZ, may also consider reopening its unit should the business case prove conducive, an official aware of Foxconn’s India plans told ET.

Foxconn had recently begun making high-end iPhones from its 160-acre plant outside the Nokia Telecom SEZ.

Electronics manufacturers had earlier said the export incentive under the Merchandise Export Incentive Scheme (MEIS) would play a key role in enabling India to get a foothold in the market birthed by the spread of manufacturing capacities from China.

Salcomp India managing director Sasikumar Gendham said most companies are adopting a “China Plus One” strategy, looking out for another base beyond China to support manufacturing. “The advantage for India is its huge domestic market, compared to its competitors such as Vietnam, and we can do much better by way of a concerted export policy push to make the most of this shift,” he said.

Salcomp India has raised capacity across its three factories in the country to 150 million chargers a year, investing Rs 200 crore in the past two years.

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 24-01-2020
Notification No. 01/2020-Customs (ADD)
seeks to amend notification No. 40/2017-Customs(ADD) dated 25-08-2017, to revise anti-dumping duty on imports of "Sodium Nitrite" originating in or exported from China PR, in pursuance of final findings of sunset review investigations issued by DGTR vide notification No. 15/06/2016-DGTR dated the 8th November 2019..

Date: 23-01-2020
A.P. (DIR Series) Circular No.20
Merchanting Trade Transactions (MTT) – Revised Guidelines

Date: 23-01-2020
A.P. (DIR Series) Circular No.19
‘Voluntary Retention Route’ (VRR) for Foreign Portfolio Investors (FPIs) investment in debt – relaxations

Date: 23-01-2020
A.P. (DIR Series) Circular No.18
Investment by Foreign Portfolio Investors (FPI) in Debt

Date: 21-01-2020
Circular No. 4/2020 – Customs
Clarification relating to import of gifts - Reg

Date: 20-01-2020
A.P. (DIR Series) Circular No.17
Introduction of Rupee derivatives at International Financial Services Centres (IFSC)

Date: 17-01-2020
TRADE NOTICE NO. 46/2019-20
Mis-classification goods under 'Others' category at the time of Import- reg.

Date: 16-01-2020
Notification No.05/2020 - Customs (N.T.)
Exchange Rates Notification No.05/2020-Custom (NT) dated 16.01.2020.

Date: 15-01-2020
Notification No. 03/2020- Customs (N.T.)
Notification of Ghasuapara LCS for imports also by amendment of Notification No. 63/1994-Customs dated 21st November 1994

Date: 15-01-2020
Notification No. 04/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver - reg.

Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001