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For Foxconn the $200 million investment in the new factory comes over and above the Rs 1,000 crore it has invested in its unit in Tamil Nadu to make iPhones under the PLI scheme
The IT manufacturers have said that they have underutilised capacities that first need to be used up before they can commit to further expansion
The deal will see Foxconn, the world's largest contract electronics maker and assembler of around 70% of all iPhones, become an AirPod supplier for the first time
In its meetings with senior central government officials in New Delhi, Foxconn clearly laid out its ambitions for India
Apple and its supplier Foxconn were among the companies that lobbied for a landmark liberalisation of labour laws in the southern state of Karnataka earlier this month, the Financial Times reported
The recent announcement of 300-acre Apple-Foxconn plant in Karnataka reflects the state's significant progress in electronics manufacturing, and will catalyse the entire electronics and deep-tech ecosystem, Union minister Rajeev Chandrasekhar said on Thursday. Chandrasekhar noted that post-Covid as electronics global value chains are being re-shaped, India is becoming increasingly relevant not just in terms of designing but also for manufacturing cutting-edge technology and next generation products and devices. The Minister of State for Electronics and IT was addressing the Deep Tech Summit organised by MeitY-NASSCOM Centre of Excellence (CoE) - IoT (Internet of Things) and AI (Artificial Intelligence), in Bengaluru, an official statement said. After the Modi government took over, opportunities in the digital economy space have expanded rapidly and cover areas such as internet consumer tech, AI, data plus economy, electronics, automobiles and space. "Under PM Narendra Modi governme
First unit, by Vedanta-Foxconn JV, under PLI scheme
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Foxconn Chairman Young Liu, has written a letter to Telangana CM K. Chandrasekhar Rao, saying that the Taiwanese contract manufacturing giant is committed to setting up the plant in the state
Taking to Twitter, the Congress Chief said, "BJP only knows to serve lies to our people and make tall claims with no authenticity"
Taiwan's Foxconn, the world's largest contract electronics maker and major iPhone assembler for Apple, said revenue in February fell 11.65% year-on-year due to weakness in smart consumer electronics
The ministry is tight lipped over the development and has not given any official reaction yet. "Officials have been directed not to give any statement to media," sources added
Major Apple Inc supplier Foxconn said on Saturday it was seeking cooperation in India in new areas like chips and electric vehicles (EVs) after a visit to the country by its chairman, Liu Young-way
The company has hired the highest number of blue collared workers amongst Apple's three vendors
The investment is one of Foxconn's biggest single outlays to date in India and underscores how China's at risk of losing its status as the world's largest producer of consumer electronics
Electronics major Foxconn will set up a manufacturing facility in Telangana with employment generation potential for over one lakh people.
Prime Minister Narendra Modi on Tuesday met Young Liu, chairman of Hon Hai Technology Group (Foxconn)
Liu is scheduled to meet with senior government officials including Lou Yangsheng, the Communist Party chief of Henan province where Zhengzhou is located, the source said
So far, the Centre has received three applications for chip manufacturing in India