Apple Supplier Foxconn to Invest in Telangana for Electronics Manufacturing Facility

Apple supplier Foxconn will invest an undisclosed sum in India's southern state of Telangana towards an electronics manufacturing facility in the south Indian state, the state's chief minister said on Thursday.

The investment will create 100,000 jobs in the state, Telangana's IT minister KT Rama Rao said. The announcement followed a meeting between Telangana's chief minister and the chairman of Foxconn earlier in the day.

Taiwan-based Foxconn already has operations in Andhra Pradesh and Tamil Nadu, where it manufactures products for companies such as Apple and Amazon.com.

It was reported earlier last month that India's southern state Karnataka is also in serious talks with Taiwan's Foxconn over investment plans, Chief Minister Basavaraj Bommai confirmed, potentially setting it up as the Indian third state to host Foxconn.

"We are in serious discussion of investment plans with Hon Hai Technology Group (Foxconn) at their Taiwan HQ & look forward to a fruitful collaboration," Bommai said in a tweet. "We remain committed to welcome the best companies to the state & reap rewards for our people."

The state's investment promotion arm also tweeted that representatives held a meeting at the company's Taiwan headquarters to discuss the investment, without providing further details.

Foxconn is said to be the world's largest electronics manufacturer. As of last year, it ranks 20th in the Fortune Global 500.

Foxconn has 173 campuses and offices in 24 countries or regions around the world.

The primary product segments for the company include smart consumer electronics (smartphones, TVs, game consoles, among others), cloud and networking products (servers, communication networks), computing products (computers, tablets) and components and others (connectors, mechanical parts, services).

Meanwhile, a joint venture of Indian conglomerate Vedanta and electronics manufacturing giant Foxconn had in February finalised the Dholera Special Investment Region near Ahmedabad city of Gujarat for setting up their semiconductor and display manufacturing facility, a senior state government official said.

The iQoo 11 is currently the most powerful Android phone you can buy in India. Should you buy it right away? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

 



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