Apple supplier Foxconn plans to invest
an additional 139.11 billion rupees ($1.67 billion) in Karnataka, said the State
Government on Tuesday.
The Taiwan-based company has been
diversifying production away from China following Covid disruptions and
geopolitical tensions.
The company assembles around 70 per cent
of iPhones and is the world’s largest contract manufacturer.
It has rapidly expanded its presence in Bharat
over the past year by investing heavily in manufacturing facilities in the
south Bharat.
In Karnataka itself, the company
announced in August an investment of $600 million in two projects to make
casing components for iPhones and chip-making equipment.
Foxconn is also expected to start
manufacturing iPhones in Karnataka by April 2024 – a project expected to create
around 50,000 jobs.
The government did not elaborate on the
latest plans for the additional investment in Karnataka, and Foxconn did not
immediately respond to an email seeking comment.
Reuters
