iPhone maker Foxconn is going to make a big investment in Karnataka

New Delhi: iPhone manufacturer Foxconn is going to invest an additional $ 1.67 billion i.e. about Rs 139.11 billion in Karnataka. Foxconn is also expected to start manufacturing iPhones in Karnataka by April 2024. Preparations are going on at a fast pace. This information has been given in a statement by the state government. The Taiwan-based company assembles about 70 percent of iPhones. The company has rapidly expanded its presence in India over the past year by investing heavily in manufacturing facilities in South India. In Karnataka itself, in August, the company announced an investment of about $ 600 million in two projects to make casing components and chip-making equipment for iPhone.

Job opportunities will increase
Foxconn is preparing to start manufacturing iPhones in Karnataka by April 2024. The project is expected to generate around 50,000 jobs. However, the government has not yet given detailed information about the company’s additional investment plans in Karnataka.

Of the two big projects that Foxconn had announced to start in Karnataka, the first plant will be the phone enclosure project. This will provide jobs to 12 thousand people. The second plant will be the Semicon Equipment Project, in which the company will invest Rs 2,000 crore and is likely to employ about one thousand people.

Companies leaving China
Due to the Coronavirus crisis and increasing tension between China and America, many companies started leaving China and looking for alternatives in other countries of the world. Taking advantage of this, the Indian government had attracted companies looking for an alternative to manufacturing in China. This step of the government has been successful. Now iPhone assembling company Foxconn is ready to invest heavily in Karnataka.