As it hopes to differentiate its creation away from China keeping severe Coronavirus guidelines, hardware monster Foxconn has purchased a tremendous plot of land on the edges of Bengaluru, the key Apple provider said in a document on Tuesday. The 1.2 million-square-meter (13 million-square-foot) procurement in Devanahalli, close to the air terminal for Indian tech center Bengaluru, was reported in a proclamation to the London Stock Trade. Foxconn is one of the primary assemblers of Apple iPhones and the largest contract electronics manufacturer in the world.
In March, the chief minister of the state of Karnataka, Basavaraj S. Bommai, stated that Apple would "soon" produce iPhones at a new plant in the state, creating "about 100,000 jobs." According to unnamed sources, Foxconn planned to invest $700 million in a new factory in Karnataka the same month, as reported by a news source earlier in the month. Young Liu, chairman of Foxconn, said in a statement that he was in the state at the time to "deepen partnerships and seek cooperation in new areas such as semiconductor development and electric vehicles." In addition, he met with Prime Minister Narendra Modi, with whom he "discussed various topics aimed at improving India's tech and innovation eco-system," according to Modi. Notably, Foxconn's plant in the southern state of Tamil Nadu has been producing Apple handsets in India since 2019. Apple devices are also manufactured and assembled in India by Wistron and Pegatron, two additional suppliers from Taiwan.
Tim Cook, Apple's CEO, opened its first two retail locations in India last month, making the company's own push into the world's most populous nation. The company, which has its headquarters in California, is placing a significant bet on the nation of 1.4 billion people, which is home to the world's second-highest number of smartphone users, after China.
In addition, the world's largest company by market value is expanding its manufacturing presence in India. Just a few weeks after the flagship iPhone 14 was released, Apple announced in September that it would manufacture the latest model in India. According to the sources, the nation produced only 7% of Apple's iPhones the previous year, trailing behind the United States, China, Japan, and other nations. Modi's "Make in India" strategy, under which he has encouraged foreign companies to manufacture goods in the South Asian nation, is bolstered by Apple's expanding manufacturing in India.
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