New Delhi: The mobile handset market leader Nokia, with facilities in the SEZ near Chennai, manufacturing plans to revamp its business in India by injecting fresh investment of Rs 250 crore over the next three years, with the potential to create 500 new jobs.
The company has provided information to the Department of Commerce, asking permission to restructuring plans. Since mobile phone manufacturer has a facility in Economic Zone (SEZ) specifically, it requires a nod from the Council agreement (BoA) for effecting changes in business models.
BoA, led by Secretary of Commerce Rahul Khullar, will take up the issue at a meeting on January 24, an official said.
“Nokia has submitted that with the change in business models and processes efficiently, further investment of Rs 250 crore in India operating in 2014 as well as the establishment of an additional 500 jobs is expected,” he said.