Foxconn Technology Group, the world's largest contract manufacturer of consumer electronics, has refuted a report about the cancellation of its Indian investment. It said its Indian business partners are aligned with the company's current investment decisions, according to a company statement sent to the Global Times on Wednesday.

"The report, which said the Group is in disputes with its clients regarding the establishment of a plant in India, is not true.�?the company said. "Our local production with major clients is running smoothly."

The company's statement came after a report from thehindu.com, which cited Maharashtra Industries Minister Subhash Desai, claimed the company is canceling its plans to invest in India's Maharashtra state due to an internal dispute with Apple.

According to Desai, plans for Foxconn to invest in Maharashtra are "not coming through",and will not be sent in the future despite the Indian government's efforts, due to "prevailing global economic conditions, better performances by [India's] competitors and internal disagreements with Apple."

"We are a long-term investor in India, where we have invested millions of dollars and employ thousands of Indian workers, and all of our business partners, customers and suppliers, are aligned with our plans and our current investment decisions," Foxconn responded in the statement.

A memorandum of understanding (MoU) between Foxconn and the Indian government was signed in 2015, and planned for the establishment of 10 to 12 facilities producing consumer electronics in India by 2020. Foxconn has proposed a $5 billion investment in the state of Maharashtra to set up a manufacturing unit for the production of mobile phones, which is expected to create 50,000 jobs by 2020, according to a report from the Times of India.