Foxconn To Invest $500 Million In Telangana To Build Factories And Generate 25,000 Jobs

Apple Inc supplier Foxconn has announced plans to invest $500 million to build factories in Telangana, a state in southern India. In the first phase, the investment will generate 25,000 employment, according to a tweet from Industry and Commerce Minister K. T. Rama Rao.

Reuters reported that Foxconn had secured a contract from Apple to produce AirPods in march and was planning to establish a manufacturing facility in India to produce the devices.

The Telangana government has pledged that the new facility, which would cost a total of $500 million (approximately Rs 4,112 crore), will be able to generate 25,000 jobs in the first phase alone.

Telangana Industry and Commerce Minister, KTR said in a tweet, "Demonstrating the "Telangana Speed", I am happy to announce the groundbreaking of the first of Foxconn's plants in Telangana at Kongar Kalaan today. With an investment of over $500M it shall create 25,000 direct jobs in the first Phase.

Foxconn provides iPhones and other Apple products to the tech giant. As per reports, the production of the new iPhone 15 and iPhone 15 Plus will commence in Foxconn and three other suppliers. Tata Group is the latest supplier to join this list and will take over Wistron's manufacturing facility.