Apple manufacturing partner Foxconn intends to double its investment and workforce in India, reports Big Breaking Wire.
The articles notes that “this underscores an increasing trend of manufacturing relocating from China amid escalating tensions between Washington and Beijing.”
Foxconn has unveiled plans to invest US$1.6 billion in building new plants in India. Big Breaking Wire says the investment will fuel the production of a range of electronic products, including smartphones, laptops, and servers.
In August Bloomberg reported that Foxconn plans to increase its investments to more than US$1.2 billion in southern India’s Karnataka state and add two component factories there. At least one of the factories that the Taiwanese company plans to construct in Karnataka will produce Apple parts, including for iPhones, the article adds. Bloomberg says the second plant will also be in Karnataka, but their exact location has yet to be decided.
What’s more, in May it was reported that Foxconn, had bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, India. The 13 million-square-foot acquisition in Devanahalli, near the airport for Bengaluru, was announced in a statement to the London Stock Exchange. It said that subsidiary Foxconn Hon Hai Technology India Mega Development was paying three billion rupees (about US$37 million) for the site, the size of more than 50 Manhattan city blocks.
Article provided with permission from AppleWorld.Today