Nokia is seeking permission from India’s Commerce Ministry to invest Rs. 250 crore* and generate 500 jobs in its India operation. Nokia is looking to restructure its business in India by heavily investing over the next three years in plants located in the SEZ (special economic zone) in Chennai, India. India’s Board of Approval has to allow Nokia to implement this change, which includes ” a change in business model and streamlined processes, further investment of Rs 250 crore in India operations by 2014 as well as creation of additional 500 jobs” confirmed Commerce Secretary Rahul Khullar. The issue will be discussed January 24th, 2012 at the Board of Approval’s next meeting.
*Rs. 250 crore is about $54 Million USD