Prime Minister Narendra Modi’s dream of turning India into a manufacturing has gathered enough steam and after Asus and HTC, Sony is also mulling to ‘Japanese electronics giant Sony is looking at local sourcing after 2004.
Top industry sources told Times of India that Sony decided in favour of local manufacturing due to several incentives offered by the government.
"However, Sony is not looking at manufacturing on its own at this moment," a source told TOI.
Sony India MD Kenichiro Hibi told the news daily that a final decision is pending on the same and there might be a possibility of long term plan of Making in India.
Via Foxconn's facilities, Sony will forgo heavy investments and will this will also leave the company with an option to set up an independent manufacturing location in the future.
Not only Sony, Foxconn is mulling to start many factories in India where it will manufacture products for a host of companies such as Xiaomi and Apple.
Finance minister Arun Jaitley had announced provisions in line with the government's 'Make in India' initiative. In case of mobile phones, for example, local manufacturing will be cheaper by around 11%.
TOI reported that India was coming out as a key market for Sony globally at a time when operations in many other countries are struggling.
(Image: Reuters)