Foxconn will invest $500 million to set up manufacturing plants in the southern Indian state of Telangana, the latest in a series of bets from the key Apple contract partner as it expands its base in the South Asian market.
K.T. Rama Rao, Telangana’s IT minister, said in a tweet that the investment from Foxconn will create 25,000 direct jobs in the “first phase.” Foxconn, which already manufacturers iPhones in India, won a bid to manufacture the AirPods in the country earlier this year, Reuters reported. It also bought land worth $37 million in Bengaluru earlier this month, according to local media reports.
India’s Prime Minister Narendra Modi’s financial incentives in recent years to drive local manufacturing have attracted commitments from Foxconn, Wistron and Pegatron.
Foxconn will invest $500 million to set up manufacturing plants in the southern Indian state of Telangana, the latest in a series of bets from the key Apple contract partner as it expands its base in the South Asian market.
K.T. Rama Rao, Telangana’s IT minister, said in a tweet that the investment from Foxconn will create 25,000 direct jobs in the “first phase.” Foxconn, which already manufacturers iPhones in India, won a bid to manufacture the AirPods in the country earlier this year, Reuters reported. It also bought land worth $37 million in Bengaluru earlier this month, according to local media reports.
India’s Prime Minister Narendra Modi’s financial incentives in recent years to drive local manufacturing have attracted commitments from Foxconn, Wistron and Pegatron.
TECHCRUNCH
