Foxconn, an iPhone supplier, will set up a new manufacturing plant in Bengaluru, Karnataka. The company will be investing around Rs 5,740 crore for this. Earlier, a semiconductor project of this company was to come up at Talegaon in the Pune district of the state. But over time, the project was shifted to Gujarat. This also led to major political turmoil in the state.
Against the backdrop of the ongoing tension between the US and China, Foxconn, a big Taiwanese manufacturing company that makes Apple phones, is looking to invest in India. They are also taking steps to make India Apple's manufacturing hub.
Foxconn is preparing to set up a project on 300 acres of land near Bengaluru airport to make iPhone parts, Bloomberg reports. In addition to assembling and producing the iPhone, it is also planning to start its electric vehicle business.
Foxconn's investment in Bengaluru is said to be the largest in India. The company is also set to make a big investment as it shifts from China to India. It is also being said that this investment will create 1 lakh new jobs. Foxconn chairman Yong Liu was on a recent visit to India. On this occasion, he inaugurated the hardware prototype facility centre for the iPhone as well as the T-Works unit in Telangana, Hyderabad.