Foxconn plans to invest and increase its employees by two-fold in India by next year

According to V Lee’s LinkedIn post on the occasion of Prime Minister Narendra Modi’s 73rd birthday, Foxconn, a Taiwan-based Apple supplier, has stated that they are planning a two-fold increase their investment and workforce in India within the next twelve months, Mint reported.

The largest electronics contract manufacturer in the world, based in Taiwan, Foxconn, has quickly increased its activity in India by investing in production facilities there, as it attempts to diversify away from China.

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Notably, Foxconn already operates a 40,000-person iPhone manufacturing in the southern state of Tamil Nadu.

To commemorate Indian Prime Minister Narendra Modi’s 73rd birthday, V Lee, Foxconn’s representative in India, wrote on LinkedIn that the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.

The Karnataka government said in August that Foxconn intended to invest $600 million in two projects in the state to produce chip-making machinery and iPhone case components.

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India will play a significant role in manufacturing in the future, according to Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn), who made the statement earlier this month.

Earlier, it took 30 years for China to develop its whole supply chain ecosystem, he said, whereas it will take a “appropriate amount of time in India” and the procedure will be quicker given the country’s experience. He claimed that with the development of new technologies like generative AI and artificial intelligence, the environment has also somewhat changed.

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The South Asian nation and a few other areas would be able to purchase the India-made iPhone 15 on the day that it goes on sale globally, according to previous reports by Bloomberg.

Reports indicate that even if the vast majority of iPhone 15s will be made in China, it would be the first time a gadget of the most recent generation was made in India and offered on the first day of sales.

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