Last Updated: December 13, 2023, 09:00 IST
Foxconn is betting massive on India with extra manufacturing plans
Apple provider Foxconn plans to make investments an extra 139.11 billion rupees ($1.67 billion) in India’s Karnataka state, the state authorities mentioned in a press release on Tuesday.
(Reuters) -Apple provider Foxconn plans to make investments an extra 139.11 billion rupees ($1.67 billion) in India’s Karnataka state, the state authorities mentioned in a press release on Tuesday.
The Taiwan-based firm, which assembles round 70% of iPhones and is the world’s largest contract producer, has been diversifying manufacturing away from China following COVID-19 disruptions and geopolitical tensions.
It has quickly expanded its presence in India over the previous yr by investing closely in manufacturing amenities in the south of the nation.
In Karnataka state itself, the corporate introduced in August an funding of $600 million in two tasks to make casing elements for iPhones and chip-making gear.
Foxconn can also be anticipated to begin manufacturing iPhones in the southern state by April 2024 – a challenge anticipated to create round 50,000 jobs.
The authorities didn’t elaborate on the newest plans for the extra funding in Karnataka, and Foxconn didn’t instantly reply to an e-mail in search of remark.
