Taiwan's Foxconn has set out three key demands with Nokia for taking over its Chennai plant, including immunity from all legal tangles and financial liabilities the Finnish company faces in India.
The Nokia factory in Sriperumbudur, Chennai, which could ship out 100 million handsets a year at its peak, was not part of the $7.5-billion buyout of Nokia's global phone operations by Microsoft back in 2014, because of an ongoing ₹21,000-crore tax dispute between the Finnish company and local tax authorities, which led to the factory being frozen and losing 12000 jobs. For fructifying a deal with Foxconn, Nokia would need to reach out to the Indian government, specifically the departments of revenue, income tax, commerce and electronics & IT.
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