Foxconn, the company responsible for putting together the majority of iPhones, is set to invest a substantial amount in the Bharat state of Karnataka. This investment, totaling 139.11 billion rupees (equivalent to $1.67 billion), is part of Foxconn’s strategy to reduce its reliance on production in China due to issues like COVID-19 disruptions and geopolitical tensions.
Over the past year, Foxconn has significantly increased its presence in India by making substantial investments in manufacturing facilities, particularly in the southern region. In August, the company previously announced a $600 million investment in two projects within Karnataka, focusing on producing casing components for iPhones and chip-making equipment.
One noteworthy aspect of Foxconn’s expansion is its plan to commence iPhone manufacturing in Karnataka by April 2024. This move is expected to generate approximately 50,000 jobs, contributing to both economic growth and employment opportunities in the region.
While the state government disclosed the additional investment from Foxconn, specific details about how the funds will be utilized were not provided. Foxconn has not yet responded to inquiries seeking clarification on this matter. As the world’s largest contract manufacturer, Foxconn’s continued investment in India signifies a broader trend of diversification in global supply chains.
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