Apple’s primary supplier in India, Taiwan-based Foxconn, is planning to make an additional investment of $1.67 billion in the Indian state of Karnataka, according to an official statement released by the state government.
The Taiwan-based company, renowned as the world’s largest contract manufacturer and responsible for assembling approximately 70 percent of iPhones, has strategically diversified its production away from China. This move responds to disruptions caused by the COVID-19 pandemic and geopolitical tensions.
Over the past year, Foxconn has significantly expanded its footprint in India by making substantial investments in manufacturing facilities, particularly in the southern part of the country.
In August, the company announced a $600 million investment in two projects in Karnataka. These projects focused on the production of casing components for iPhones and chip-making equipment.
The latest investment underscores Foxconn’s commitment to strengthening its presence in Karnataka.
The company is expected to commence iPhone manufacturing in the southern state by April 2024, which is expected to generate approximately 50,000 jobs.
This continued investment aligns with Foxconn’s broader strategy to establish India as a key manufacturing hub, forming a more significant trend among global companies seeking to diversify their production locations, a strategy often referred to as China Plus One.
