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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Foxconn invests $500 million in India’s Telangana state.

The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang
The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022.... The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang
The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang
The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022.... The logo of Foxconn is seen outside the company's building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang

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On Monday, Telangana’s IT minister said that Apple Inc. (AAPL.O) supplier Foxconn (2317. TW) would invest $500 million in manufacturing plants.

K. T. Rama Rao tweeted that the initial investment will create 25,000 employees.
Reuters reported in March that Foxconn had landed an Apple AirPods contract and planned to build a factory in India.

Apple has moved manufacture from China, where COVID-19 limitations delayed iPhone and other gadget production. Beijing-Washington tensions might potentially hurt the tech company.

Karnataka approved Foxconn’s $968 million investment in late March.


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