Foxconn To Begin iPhone Manufacturing In India's Karnataka State By April 2024

Apple Inc (AAPL.O) supplier, Foxconn (2317.TW), is set to commence iPhone manufacturing operations in the southern Indian state of Karnataka by April 2024, as announced by the state administration on Thursday.

According to Reuters, the government announced that Foxconn will be handed the land for the manufacturing by July 1, and that the project, which is anticipated to cost 130 billion rupees ($1.59 billion), will create around 50,000 jobs.

Foxconn, the world's largest contract electronics maker, has set a goal of producing 20 million iPhones per year at its plant in Devanahalli, on the outskirts of Bengaluru, the state capital and technology powerhouse.

Apple has been relocating production away from China after the country's harsh COVID-related restrictions hampered the development of new iPhones and other gadgets.

The IT titan is also attempting to prevent damage to its company as a result of tensions between Beijing and Washington. A Foxconn spokesperson did not immediately respond to Reuters' request for comment.