Authorities in the southern Indian state of Karnataka announced the allocation of a 120-hectare site for the construction of a new iPhone assembly plant. On your page in Twitter the state investment department noted that the Taiwanese company Foxconn Technology Group is investing in this construction. It is expected that the launch of production will provide more than 100 thousand jobs within ten years.
The amount of Foxconn’s investment was not specified, but Bloomberg previously reported that Foxconn intends to invest about $700 million to expand iPhone production in India. iPhones are now being assembled in India by Apple’s three main suppliers: Foxconn and Pegatron have factories in Tamil Nadu, and Wistron has a factory in Karnataka. In general, over the past six months, Apple has been working on a gradual withdrawal of production from China amid a slowdown in the economy and rising tensions with China. At the same time, a significant amount of production is moving to neighboring India. The American company plans to increase the share of its production in India up to 25%, which was announced at the end of January by the Minister of Commerce of India. Now this share is 5-7% of the total volume of Apple products.
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