Foxconn Technology Group, the main supplier for Apple, intends to invest nearly $500 million (4,100 INR-Cr) in constructing two component factories in India. The company has chosen the southern state of Karnataka as the location for these factories. It is anticipated that at least one of these facilities will be dedicated to manufacturing Apple components, including those used in iPhones.
In March, Karnataka approved an investment of $972.88 million (8,000 INR-Cr) by a Foxconn subsidiary, making it the third southern Indian state, after Andhra Pradesh and Tamil Nadu, to welcome Foxconn’s ventures.
Currently, the company is considering specific sites for the upcoming facilities in the state, and an official announcement is expected to be made this week.
Also Read: Foxconn to set up 1,600 INR-Cr electronic component plant in Tamil Nadu
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