:Apple's main supplier, Foxconn Technology Group, is planning to invest close to US$500 million to build two component factories in India, Bloomberg News reported on Monday , citing people familiar with the matter.
These factories will be built in the southern state of Karnataka and at least one of them will produce Apple parts, including for iPhones, the report said. The exact locations of the new plants in the state are yet to be decided and a formal announcement is expected as early as this week.Karnataka has already approved investment to the tune of 80 billion rupees by a Foxconn unit in March, making it the third southern Indian state after Andhra Pradesh and Tamil Nadu to allow Foxconn plants.
As part of its investment drive in India in its bid to diversify beyond China, the Taiwanese company has also signed a deal with Tamil Nadu to invest 16 billion rupees in a new electronic components manufacturing facility that will create 6,000 jobs, the state government said on Monday. The Foxconn Industrial Internet facility will be built in the Kancheepuram district near the state capital of Chennai, a state government source said on condition of anonymity as details are not yet public.
Source: Tech Daily Report (techdailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Foxconn unit to sign $194 million components plant deal with India's Tamil Nadu-sourceCHENNAI : A Foxconn unit will on Monday sign an agreement with India's Tamil Nadu state to build a new facility for electronic components that will create 6,000 new jobs, a senior state government source with direct knowledge said.The subsidiary, Foxconn Industrial Internet (FII), plans to invest 16 billi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Foxconn signs $194 million components plant deal with India's Tamil Nadu stateCHENNAI :Taiwan's Foxconn has signed an agreement with India's Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility that will create 6,000 jobs, the government of the southern state said on Monday.The facility will be for Foxconn Industrial Internet (FII)
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
India launches seven Singaporean satellitesSatellites on board included one from Singapore’s Defence Science and Technology Agency and ST Engineering Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
West Indies level ODI series with six-wicket win over IndiaWest Indies beat India by six wickets in the second one-day international at Barbados on Saturday, claiming their first victory over the Asian side in nearly four years to level the series at 1-1 and force a decider.In the absence of Rohit Sharma and Virat Kohli, India were put into bat after the hosts wo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
India sees spurt in white-collar professionals joining gig economyFlexibility of freelancing and better work-life balance cited as reasons for giving up stable jobs. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
At least 4 killed in shooting on moving train in IndiaA police officer allegedly opened fire indiscriminately in the train, which was travelling from Jaipur to Mumbai. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »