Though neither the state government nor Foxconn disclosed the investment amount, industry sources said it will entail an investment of $700 million. The new plant will come up near the Bengaluru international airport, in Doddaballapura and Devanahalli taluks, the Karnataka government said in a statement.
Foxconn currently manufactures iPhones in Tamil Nadu under the production-linked incentive (PLI) scheme. Two other contract manufacturers of Apple make iPhones in India under the PLI scheme: Pegatron in Tamil Nadu and Wistron in Karnataka.
Under the PLI scheme, smartphone exports from India has crossed the ₹60,000-crore mark during April-December of the current fiscal. This is 100% higher
This story is from the March 04, 2023 edition of Financial Express Mumbai.
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This story is from the March 04, 2023 edition of Financial Express Mumbai.
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