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Maharashtra showers tax goodies on Foxconn

100% subsidy on fixed capital investment, without any limit on amount; 20% capital subsidy over and above central govt subsidies

Maharashtra CM Devendra Fadnavis (left) with Terry Gou, founder and chairman, Foxconn
Maharashtra CM Devendra Fadnavis (left) with Terry Gou, founder and chairman, Foxconn

The Bharatiya Janata Party-led government in Maharashtra has offered a slew of sops to Foxconn, which is set to invest $5 billion in the state. The state government has offered to help Foxconn, Taiwan's leading electronic contract manufacturer, seek loans at preferred interest rates from financial institutions, with a payment moratorium of 10 years. It will also assist the company in securing favourable working capital financing, with preferential interest rates for 10 years. The government will provide a subsidy on the entire fixed capital investment, without any limit on the ...