Make in India push: iPhone maker Foxconn to invest $500 million in Telangana; will create 25,000 jobs
By Team Newsable | First Published May 15, 2023, 4:41 PM ISTFoxconn will invest $500 million to set up manufacturing plants in the southern Indian state of Telangana. 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.”
Apple’s leading supplier Foxconn has announced plans to invest $500 million in the Indian state of Telangana, creating around 25,000 jobs in the initial phase of the project. The news was announced by Telangana minister KT Rama Rao on Monday.
Taking to Twitter, KT Rama Rao wrote: "Demonstrating the “Telangana Speed”, I am happy to announce the groundbreaking of first of Foxconn’s plants in Telangana at Kongar Kalaan today With an investment of over $500M it shall create 25,000 direct jobs in first Phase."
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Demonstrating the “Telangana Speed”, I am happy to announce the groundbreaking of first of Foxconn’s plants in Telangana at Kongar Kalaan today
With an investment of over $500M it shall create 25,000 direct jobs in first Phase pic.twitter.com/PHThJWxsfT
The new facility, according to a joint statement from the Telangana government and Foxconn, "is a promise to continue delivering world-class products to the markets, and a milestone for Foxconn Interconnect Technology's global expansion strategy."
The Foxconn plant will be located near Hyderabad, specifically in Kongar Kalaan in Ranga Reddy district.
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The COVID-19 epidemic and supply chain issues have forced Foxconn, the world's largest iPhone producer, to search for ways to lessen its reliance on China. This investment represents a significant step in that direction.
Additionally, Apple has been concentrating on growing its footprint in India. The business has opened two offline locations, one each in Delhi and Mumbai. Foxconn has purchased a sizable plot of land close to Bengaluru in addition to Telangana, where it intends to build another manufacturing site.
Separately, there are rumours circulating in the media that Apple and Tata have agreed to manufacture the next iPhone 15 and iPhone 15 Plus in India.
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