Apple provider Foxconn plans to take a position an extra 139.11 billion rupees ($1.67 billion) in Karnataka, the State authorities stated in an announcement on Tuesday.
The Taiwan-based firm, which assembles round 70 per cent of iPhones and is the world’s largest contract producer, has been diversifying manufacturing away from China following Covid-19 disruptions and geopolitical tensions.
- Additionally learn: Foxconn to take a position one other $1.6 billion in India in China+1 push
It has quickly expanded its presence in India over the previous yr by investing closely in manufacturing services within the south of the nation.
In Karnataka itself, the corporate introduced in August an funding of $600 million in two initiatives to make casing elements for iPhones and chip-making tools.
- Additionally learn: Apple provider Foxconn books shock rise in quarterly revenue
Foxconn can be anticipated to start out manufacturing iPhones within the southern State by April 2024 – a challenge anticipated to create round 50,000 jobs.
The federal government didn’t elaborate on the newest plans for the extra funding in Karnataka, and Foxconn didn’t instantly reply to an electronic mail in search of remark.
#Foxconn #make investments #further #billion #Karnataka