Telangana, located in southern India, will be the location of Foxconn’s production factories, which will receive an investment of 500 million dollars. Telangana’s Minister of Information Technology K.T. Rama Rao stated in a tweet that the state’s investment in Foxconn will result in the creation of 25,000 direct jobs in the “first phase.”
Foxconn, the most important supplier for Apple, has revealed that it intends to make an investment of 500 million dollars in the Indian state of Telangana. This would result in the creation of around 25,000 new employment. On Monday, Telangana minister KT Rama Rao made the announcement concerning the news.
KT Rama Rao posted the following message on Twitter: “Demonstrating the “Telangana Speed,” I am happy to announce the groundbreaking of the first of Foxconn’s plants in Telangana today at Kongar Kalaan. With an investment of over $500 million, it shall create 25,000 direct jobs in the first phase.”
According to a statement released jointly by the government of Telangana and Foxconn, the new plant “is a promise to continue delivering world-class products to the markets, and a milestone for Foxconn Interconnect Technology’s global expansion strategy.”
The manufacturing facility for Foxconn would be established close to Hyderabad, more precisely in the Kongar Kalaan neighbourhood of the Ranga Reddy district.
Because of the COVID-19 outbreak and problems with the supply chain, Foxconn, the company that manufactures the most iPhones in the world, has been compelled to look for methods to reduce its dependency on China. This investment is a huge step in the right path towards achieving that goal.
In addition to this, Apple has been putting a lot of effort into expanding its presence in India. The company has expanded its presence in the real world by opening a storefront in both Delhi and Mumbai. In addition to the land it already owns in Telangana, Foxconn has just acquired a huge parcel of land in the vicinity of Bengaluru with the intention of constructing yet another manufacturing facility there.
In a separate development, there are rumours that Apple and Tata have reached an agreement to produce the future iPhone 15 and iPhone 15 Plus in India. These rumours are being spread by the media.