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HomeBusinessFoxconn to Invest $500m in Telangana – New Facility will create 25,000 jobs in the first phase

Foxconn to Invest $500m in Telangana – New Facility will create 25,000 jobs in the first phase

17 May 2023: Media reports has cited Foxconn and Government of Telangana announcing the groundbreaking for a new electronics manufacturing facility in Telangana. The ceremony is said to have occurred in the presence of the Minister for Industries & Commerce, ITE&C and MA&UD K. T. Rama Rao, and Foxconn Interconnect Technology Chairman & CEO Sidney Lu.

Proposed electronics manufacturing facility is being set up in Kongara Kalan. According to a statement issued by the company, the new facility promises to deliver ‘world-class products’ to the markets. The facility will serve as a hub for Foxconn Interconnect Technology’s operations in Telangana. It will add to the producer’s existing production capacity in India. Telangana government has stated that new facility will be able to create 25,000 jobs in the first phase itself with a total investment of $500 million (roughly Rs.4,112 crore).

Foxconn is the primary supplier to Apple. The company supplies iPhones and other Apple products to the company. Reportedly, the new Apple iPhone 15 and iPhone 15 Plus production will start in Foxconn and other three supplier. Tata Group will be the latest supplier to join the list. The company will be taking over Wistron’s manufacturing facility.

Recent news reports had stated that Foxconn purchased 300 acres of land in Bengaluru’s Devanahalli taluk near the city’s international airport. Announcing that it will focus on increasing production yield in India, Hon Hai head Young Liu had revealed his India plans at the earnings call after releasing its quarterly results.

He stated that India has now reached a population of 1.4 billion people, translating to a large potential market for mid-to-high-end products which our clients are focusing on. Hence, it is necessary for us to continue to expand assembly and component operations in India.

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