Apple Supplier Foxconn To Infuse Another $1.67 Bn Into Karnataka To Push iPhone India Production

Apple Supplier Foxconn To Infuse Another $1.67 Bn Into Karnataka To Push iPhone India Production

SUMMARY

Foxconn is expected to start manufacturing iPhones in the state by April 2024 — a project expected to create around 50,000 jobs

This additional investment follows Foxconn's recent declaration of investing over $1.5 Bn in India to fulfil operational requirements

Foxconn had proposed an investment of INR 8,000 Cr for setting up a phone manufacturing unit in Karnataka

Apple supplier Foxconn is reportedly planning to invest an additional INR 13,911 Cr ($1.67 Bn) in Karnataka, in a further boost to the tech giant’s plan to ramp up iPhone manufacturing across India.

Karnataka has also approved 14 projects worth INR 34,115 Cr with the potential to generate 13,308 jobs in the state. Of these, 10 are new projects worth INR 19,452.40 Cr, while the remaining four are additional ones with investments worth INR 14,662.59 Cr, according to a statement.

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