iPhone India Plant: Foxconn preparing to set up a new plant in Karnataka, so many people will get employment.
Taiwan’s chip and smartphone maker Foxconn is preparing to set up a new plant in Karnataka. This new plant of the company can be built on 300 acres near the airport in Bengaluru, the capital of Karnataka. For this, the company can make a huge investment of $700 million (Foxconn India Investment).
The effect of tension between China and America
In a Moneycontrol news, quoting sources related to the matter, it has been told that Foxconn is looking to speed up its local production in India. For this, the company can now set up a new plant (Foxconn India Plant) in Karnataka with an investment of $700 million. This move by Foxconn, a Taiwanese company that manufactures iPhones for Apple, is being linked to the growing tension between China and the US. It is believed that Foxconn is now shifting its manufacturing business from China to India due to rising tensions between the world’s two top economies.
This production will be done in the new plant
Foxconn’s flagship unit Hon Hai Precision Industry Company (Hon Hai Precision Industry Company) manufactures the iPhone. According to the news, now this unit is going to set up a plant (Foxconn Bengaluru Plant) on 300 acres near Bengaluru airport. Sources say that the company can make iPhone for Apple in this plant. Apart from this, the company can also produce some parts for its new Electric Vehicle Business in the plant. However, nothing has been said publicly about this from the company yet.
China’s dominance is decreasing
If this news turns out to be true, then it will be the biggest single investment of Foxconn in India so far. Let us tell you that the production of consumer electronics in China is getting affected amid rising tension with America. Till now China has been known as the world’s largest consumer electronics producer. If companies shift their production from China in the same way, then this status can be snatched from China. At the same time, India is emerging as one of the biggest beneficiaries of this change.
So many people will get employment
In the news, quoting the people related to the case, it has been told that about 01 lakh employment opportunities can be created from the proposed plant in Karnataka. Currently, Foxconn’s iPhone plant in the Chinese city of Zhengzhou employs about 0.2 million people. This figure increases further in the peak production season. Production at the Zhengzhou plant has been affected due to the disruption caused by COVID-19. For this reason too, Foxconn is looking at other options instead of China. It is being said that companies are shifting their production from China faster than expected.
