9 months ago
80 Foxconn logo displayed connected a telephone surface and Apple logo connected a laptop are seen successful this illustration photograph taken successful Krakow, Poland connected November 2, 2022.
Jakub Porzycki | Nurphoto | Getty Images
Foxconn volition put much than $600 cardinal successful India arsenic portion of a telephone manufacturing task and separately a semiconductor instrumentality facility, according to the authorities of the authorities of Karnataka.
In a tweet connected Wednesday, M B Patil, Karnataka's curate of commerce said the Taiwanese steadfast and U.S. spot steadfast Applied Materials pledged to put much than $360 cardinal into a telephone casing constituent works and immoderate $240 cardinal into a semiconductor instrumentality manufacturing project.
The telephone task volition make employment opportunities for 12,000 people, Patil said, portion the semiconductor installation volition make employment for 1,000 people.
Foxconn is 1 of the world's biggest declaration electronics manufacturers. It is champion known arsenic the main assembler of Apple's iPhones but the institution has been looking to diversify some geographically and successful presumption of its portfolio of products.
Foxconn's main operations are successful China, wherever it runs the world's largest iPhone factory. But India, which has been pushing to bring high-tech manufacturing to the country, has been a people of Foxconn's enlargement plans.
Meanwhile, the institution has ramped up efforts to set itself up arsenic an electrical car manufacturer to diversify beyond user electronics. Foxconn has also, with small occurrence truthful far, tried to participate the semiconductor manufacturing area.
Foxconn agreed with Indian metals-to-oil conglomerate Vedanta to acceptable up a semiconductor and show accumulation works successful India arsenic portion of a $19.5 cardinal associated venture. But Foxconn pulled retired of the task past month.
Foxconn declined to remark connected the concern successful Karnataka erstwhile contacted by CNBC. Applied Materials was not instantly disposable for comment.
Under Prime Minister Narendra Modi, India has looked to presumption itself arsenic a hub for precocious technology, in peculiar semiconductors. Modi attended a semiconductor lawsuit successful India past week, astatine which senior executives from large U.S. spot firms including Applied Materials and AMD were present. Young Liu, president of Foxconn, was besides contiguous arsenic companies praised India and announced investments.
