Foxconn to invest $500 million in Telangana, India for manufacturing plants

Foxconn, a major Apple contract partner, plans to invest $500 million to establish manufacturing plants in the southern Indian state of Telangana, continuing its expansion in the South Asian market. The investment will create 25,000 direct jobs in the first phase, according to K.T. Rama Rao, Telangana’s IT minister. Foxconn, which already manufactures iPhones in India, won a bid to manufacture AirPods earlier this year and recently purchased land worth $37 million in Bengaluru, according to local media reports.

The Indian government’s financial incentives have attracted commitments from Foxconn, Wistron, and Pegatron in recent years. Foxconn entered India in 2006, ahead of many of its global competitors. Young Liu, Foxconn chairman, explained that they have accumulated experience in managing local employees, supply chain, and logistics during this time period, which allows them to move faster than the market and expand quickly.

India’s population of 1.4 billion people provides a vast market for mid-to-high-end products, which Foxconn’s clients are focusing on. Therefore, it is necessary to continue to expand assembly and component operations in India. Labor costs in India also provide advantages. Foxconn will continue to apply for government incentives to increase its competitiveness.

Apple’s manufacturing partners’ growing interest also comes as the iPhone-maker attempts to expand its manufacturing infrastructure beyond China. Apple opened its first two retail stores in India last month, and JP Morgan analysts predict that its iPhone manufacturing capacity in India could expand to produce 25% of all iPhones by 2025.

Thomas Waner

A writer interested in artificial intelligence fields with good experience in programming. He is currently working for us as a writer, manager, and reviewer, with a strong CV.
from India. You can contact him via e-mail: [email protected]

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