- Foxconn, an Apple heavyweight, is building a $500 million factory in Telangana, India, set to employ 25,000 workers in the initial phase.
- Amid geopolitical tension and a push for diversification, Apple's leading supplier is expanding its horizons beyond China.
- Despite initial ambiguity, Foxconn signed an agreement with the Telangana government, and is rumored to have further plans in Karnataka.
Picture an old, crumbling, polluted factory quietly being swallowed by nature. Now, let's shift gears - we're moving from Taiwan to India, where Foxconn, a major cog in Apple's massive machinery, is laying the first bricks of a shiny, new $500 million factory. This comes hot on the heels of Tim Cook, Apple's main man, cozying up with Indian Prime Minister Narendra Modi.
Foxconn isn't any old supplier for Apple. It's the big kahuna, responsible for a whopping 70% of the world's iPhone supply. This new factory, nestled in the heart of Telangana, is set to employ 25,000 workers. That's right, you heard it, 25,000. And that's just the opening act, according to the government of Telangana's Twitter feed.
Meanwhile, China's putting on the charm, encouraging foreign investment and doing everything in its power to revamp its industrial output, which took a nosedive during the Covid lockdowns. But as the U.S. and China play their geopolitical chess game, Apple's nudging suppliers to spread their wings beyond China, which was once their go-to spot for affordable and reliable production.
Earlier this year, Foxconn's top dog, Young Liu, went on an Indian excursion. Even though Foxconn played it coy with the local press, denying any concrete plans for new investments, it wasn't long before they inked a deal with the Telangana government. A discrepancy? Perhaps. But Foxconn's keeping mum about the timeline.
That's not all, folks. Word on the street is that Foxconn's not stopping at Telangana. It's said to be eyeing the Indian state of Karnataka, just a stone's throw from Bengaluru, for another factory. So buckle up, because Foxconn's Indian adventure is just getting started.
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