IPhone Maker Foxconn Aims to Double Investment, Employment In India In A Year

Foxconn, one of the biggest suppliers for Apple, will double its investment and jobs in India. This piece of information was given by the company's representative on his LinkedIn page.

On the occasion of Prime Minister Narendra Modi's 73rd birthday, V Lee, Foxconn's representative in India greeted him and made the big announcement.

On his LinkedIn page, he said, "Happy Birthday, Honourable PM. Under your leadership, Foxconn has grown smoothly and rapidly in India. We will work even harder to present you with a greater birthday gift next year, aiming for another doubling of employment, FDI, and business size in India."

The world's largest contract manufacturer of electronics has employed 40,000 people at its Tamil Nadu plant. However, he did not mention the figures in this regard on increasing the workforce in India.

As Taiwan-based Foxconn is looking to move away from China, it has started seeing India as one of the upcoming markets for investment. It has plans to increase its workforce by recruiting 53,000 more workers over the next two years and expand its workforce to around 70,000 in India, Reuters had earlier reported citing sources.

The company opened its plant in 2019 and has been ramping up production. The company started manufacturing iPhone 14 last year.

In August, Karnataka made public its announcement of a $600 million investment by Foxconn, designated for two projects situated within the state. These ventures are centred around the manufacturing of casing components for iPhones and the production of chip manufacturing equipment.