Apple Supplier Foxconn signs a new Agreement to Manufacture Electronics in Southern India
On Tuesday Patently Apple posted a report titled "Apple's main AirPods Supplier GoerTek claims that most Apple Suppliers are Racing to Exit China." Today we're learning that Foxconn Technology Co. Ltd. Has signed an agreement to invest in India’s southern Telangana state to manufacture electronics, as the Apple Inc. supplier looks to pivot beyond China.
The announcement follows a meeting between Foxconn Chairman Young Liu and Telangana chief minister K Chandrasekhar Rao. Liu, who is on a tour of India, also met with Prime Minister Narendra Modi earlier this week.
Foxconn’s investment is the largest in India’s electronics sector and will create 100,000 jobs, Rao’s office said.
The state government and Foxconn didn’t disclose the size of the contract manufacturer’s investment or specify products that it would make in the state.
Modi’s flagship local manufacturing drive and financial incentives have led Apple suppliers Foxconn, Wistron Corp. and Pegatron Corp. to ramp up in the country. For more, read the full Bloomberg report.