iPhone Maker Foxconn Invests $37 Million in Bengaluru Land to Expand Manufacturing in India

iPhone Maker Foxconn Invests $37 Million in Bengaluru Land to Expand Manufacturing in India

Bengaluru, May 9: Foxconn, Apple’s partner and Taiwanese multinational electronics contract manufacturer, has acquired a 1.2 million square meter land in Bengaluru’s Devanahalli area near the airport for $37 million. This move is seen as part of their joint efforts to diversify away from China and expand their manufacturing footprint in India. With Apple aiming to reduce its reliance on China and India accounting for 7% of iPhone production, the companies are seeking alternative production bases due to COVID-related restrictions and strained US-China relations affecting production.

In line with this, Karnataka Chief Minister Basavaraj Bommai had previously announced that Apple would soon manufacture iPhones in a new plant in the state, generating around 100,000 jobs. Foxconn Chairman Young Liu expressed his intent to deepen partnerships and explore cooperation in new areas such as semiconductor development and electric vehicles during his visit to Karnataka in March.

This recent land acquisition is not Foxconn’s sole presence in India, as the company has been manufacturing Apple handsets at its Tamil Nadu plant since 2019. Other Taiwanese electronics manufacturers, including Wistron and Pegatron, also contribute to Apple’s manufacturing operations in India. Additionally, Apple supplier Jabil Inc has commenced the production of components for Apple AirPods in the country.

Apple CEO Tim Cook has emphasized India as a major focus for the company, citing its growing middle class and potential for expansion. During his visit to India, Cook met with Prime Minister Narendra Modi, IT Minister Ashwini Vaishnaw, and MoS IT Rajeev Chandrasekhar, discussing topics such as local manufacturing, exports of iPhones, and deepening Apple’s engagement in India across various sectors like manufacturing, electronics exports, skilling, sustainability, and job creation.

With Foxconn’s latest investment in Bengaluru, coupled with Apple’s commitment to India’s market, the country’s position as a crucial manufacturing and growth hub for the tech giant is further solidified.

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