Tech giant, Foxconn is set to inject a substantial $600 million into India’s tech landscape, as it embarks on two pivotal projects in the southern state of Karnataka.
The Taiwanese company’s strategic move involves chip equipment manufacturing and casing components for iPhone models, signaling a significant investment in India’s burgeoning tech industry.
Of the total investment, an impressive $350 million will be channeled into establishing an iPhone component unit, a venture poised to create a staggering 12,000 job opportunities.
In a collaborative endeavor, Foxconn will also partner with Applied Materials in a $250 million project aimed at producing chip-making tools.
These transformative initiatives were unveiled following a meeting between Foxconn Chairman Young Liu, Karnataka’s IT minister Priyank Kharge, and Industries Minister MB Patil.
The decision to invest in India further underscores Foxconn’s commitment to the region.
Recently, the manufacturing powerhouse solidified an agreement with Tamil Nadu to construct a cutting-edge facility for electronic components, slated to introduce 6,000 fresh job openings.
With a $194.45 million investment, Foxconn’s forthcoming campus in Kancheepuram district, situated near the state’s capital of Chennai, is set to make a significant economic and technological impact.
Moreover, Foxconn’s ambitions extend beyond chip manufacturing. The company’s electric vehicle platform, Mobility in Harmony, is exploring the prospect of establishing an electric car factory in either India or Thailand.
MIH’s CEO, Jack Cheng, revealed intentions to craft an affordable three-seat EV tailored for corporate delivery fleets, a move poised to contribute to sustainable and eco-friendly transportation.
These developments highlight Foxconn’s alignment with India’s aspirations to become a technological hub.
With prominent figures from Foxconn, Micron, and AMD converging in Prime Minister Narendra Modi’s home state, Gujarat, the stage is set for India’s chip industry to thrive.
As Foxconn’s monumental investments pave the way for technological innovation and economic growth, India’s tech landscape appears poised for an exciting transformation.
