In pivot away from China, iPhone supplier to build factory in India: Report

Foxconn, 1 of Apple's largest suppliers and a large shaper of iPhone components, volition put astir $700 cardinal to physique a caller works successful India's Karnataka state, Bloomberg reported Friday. The study comes arsenic U.S. companies proceed to reevaluate their reliance connected China successful the aftermath of mounting hostility betwixt the U.S. and the Chinese government.

Bloomberg, citing radical acquainted with the matter, said Foxconn volition physique an iPhone parts works connected a 300-acre tract adjacent Bengaluru's Kempegowda International Airport. Bengaluru, besides known arsenic Bangalore, is the superior of Karnataka state, which lies connected the southwestern seashore of India and has 1 of the highest per-capita GDP levels of immoderate Indian state.

Government officials confirmed Bloomberg's reporting connected Friday, penning that the caller works would make 100,000 jobs. The effort volition beryllium 1 of the largest investments by Foxconn successful India, Bloomberg reported.

Bengaluru successful peculiar is considered 1 of the starring engineering and exertion hubs successful India.

Foxconn and exertion suppliers much broadly person looked to diversify beyond China, which has been a accepted hub for manufacturing, successful the aftermath of devastating Covid lockdowns and manufacturing slowdowns. Those lockdowns prompted wide nationalist dissent, and videos of Foxconn employees fleeing the company's iPhone manufacturing installation spread widely connected Western societal media.

India and Vietnam person emerged arsenic apical contenders to supplant China's dominance successful the manufacturing and proviso space. CNBC has previously reported connected comments from Indian authorities officials which claimed that Apple sought to ramp up accumulation successful India to relationship for 25% of their full output. Foxconn already maintains a beingness successful India done a Chennai-proximate mill successful eastbound India.

Read much astatine Bloomberg.