Foxconn, the world's largest electronics contract manufacturer, has been rapidly expanding its presence in India, particularly in the southern region, through a series of significant investments and ventures.
The company, renowned for producing Apple iPhones, already operates an iPhone factory in Tamil Nadu, employing approximately 40,000 individuals.
Recently, Foxconn's India representative, V Lee, disclosed plans to double investments, business activities, and the workforce in the country.
As part of its efforts to double investments in India by 2024, Foxconn has expressed a strong interest in broadening its business portfolio beyond smartphones and mobile components.
Foxconn is gearing up to manufacture casing components for iPhones at a newly established facility in Karnataka, backed by a $350 million investment. This endeavour is expected to create around 12,000 jobs.
Moreover, the company has secured an order to manufacture Apple's AirPods and is planning to establish a production facility in India for this purpose.
In a recent development, Foxconn has announced a partnership with Applied Materials for a $250 million project focused on manufacturing chip-making tools in Karnataka. This initiative is poised to generate job opportunities for approximately 1,000 people.
**Mobile components plant:** Foxconn has inked a deal with the southern state of Tamil Nadu to invest Rs 1,600 crore in a new electronic components manufacturing facility. This facility is anticipated to generate employment for 6,000 individuals.
**Semiconductor manufacturing:** The company is currently in discussions with Gujarat regarding the establishment of a semiconductor plant. This decision comes after Foxconn terminated a $19.5 billion joint-venture plan with India's Vedanta. Reports suggest that Foxconn has partnered with STMicroelectronics NV to submit a joint bid for constructing a semiconductor manufacturing plant in India.
**EV push:** Foxconn is entering the realm of standardized electric vehicle platforms. The company is exploring India, among other locations, as a potential site for producing a compact battery-powered car under this initiative, as revealed by the unit's CEO.
Foxconn's growing interest and investments in India span across a wide spectrum of industries, ranging from electronics assembly to semiconductor manufacturing and electric vehicle development. These initiatives are not only expected to boost India's manufacturing sector but also make a significant contribution to job creation in the country.
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