Taiwan-based contract Foxconn will invest $500 million to set up manufacturing plants in the southern Indian state of Telangana, the state’s IT minister K. T. Rama Rao said on Monday.
In a tweet, the minister said that the investment will create 25,000 jobs in the first phase.
Due to the ongoing US-China tensions and geo-political situations, Apple has been shifting production from China, where prior COVID restrictions disrupted the manufacturing of new iPhones and other devices. The tech company is also looking to avoid a hit to its business due to tensions between Beijing and Washington.
As per a Reuters report in March this year, Foxconn had won an order to make AirPods for Apple and planned to build a factory in India to manufacture the products.
In late March, the Apple supplier received approval from the Karnataka government for a $968 million investment in the state. The company has purchased a 1.2 million-square-metre (13 million-square-foot) acquisition in Devanahalli, near the airport for Indian tech hub Bengaluru.
Foxconn started manufacturing Apple handsets in India in 2019 at its plant in the southern state of Tamil Nadu. Two other Taiwanese suppliers, Wistron and Pegatron, also manufacture and assemble Apple devices in India.
(With inputs from agencies)
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
