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Foxconn To Invest $500 Million To Establish Manufacturing Plant in India's Telangana

Asia Manufacturing Review Team | Monday, 15 May 2023

 Asia Manufacturing Review Team

Foxconn, an Apple Inc supplier, will invest $500 million to establish manufacturing plants in the southern Indian state of Telangana, the state's IT minister announced on Monday.

According to K. T. Rama Rao's tweet, the investment will create 25,000 employment in the first phase.

In March, sources said Foxconn had won an order to manufacture AirPods for Apple and planned to open a factory in India.

Apple has begun to relocate production away from China, where previous COVID limitations hampered the development of new iPhones and other gadgets. The tech firm is also attempting to avoid a blow to its business as a result of tensions between Beijing and Washington.

Foxconn gained approval from the Karnataka government for a $968 million investment in the state in late March.