Foxcon from China has invested Rs. 8,300 crore is planned to be invested. The investment will be made in a plant that Apple is setting up in Bengaluru to manufacture devices.
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What is the investment of Foxconn in India
Apple's contract manufacturer foxconn is setting up a 300-acre plant in Bangalore to manufacture Apple devices in India.
Earlier, foxconn had spent Rs. 13,280 crore had been approved for investment. In addition to this Rs. 8,300 crore investment approved by the company. With this, faxcon's total investment in India is Rs. 20,580 crores.
With this investment, Apple's next-generation devices will be manufactured at a plant set up in Bangalore. The plant is expected to be operational by 2024.
Foxconn is one of Apple's major contract manufacturers. The company manufactures devices such as Apple's iPhone, iPad, and i-Mac.
As manufacturing costs rise in China, Apple is looking to shift production to other countries. This investment in India is part of that initiative by Apple.
Foxconn is said to be making the investment in an effort to set up a global manufacturing hub for China.