Foxconn, an Apple supplier, will invest $500 million in Telangana, a southern Indian state, the state’s IT minister announced on Monday.
The investment will create 25,000 jobs in the first phase. The Telangana State Industrial Infrastructure Corporation has allocated 196 acres of land to Foxconn to set up its facility at Kongara Kalan on the outskirts of Hyderabad.
According to Reuters, Telangana IT Minister K. T. Rama Rao announced on Monday that Taiwan-based firm Foxconn will invest $500 million to set up production factories in the southern Indian state of Telangana, creating 25,000 employment in the first phase.
Due to continuous US-China tensions and geopolitical conditions, Apple has shifted production from China, where previous COVID limitations hampered the creation of new iPhones and other gadgets. The tech firm is also attempting to avoid a blow to its business as a result of tensions between Beijing and Washington.
According to a Reuters report from March of this year, Foxconn had obtained an order from Apple to produce AirPods and planned to build a factory in India to do so.
