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V Lee, a Foxconn representative in India, shared in a LinkedIn post on Sunday that Apple Inc. partner Foxconn Technology Group plans to double its investment and employment in India within the coming twelve months.
The Foxconn representative shared the LinkedIn post to mark Indian Prime Minister Narendra Modi’s 73rd birthday, and said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.
In August this year, Karnataka governments had said that Foxconn has planned to invest $600 million for two projects in the state to make casing components for iPhones and chip-making equipment.
Hon Hai Chairman Young Liu last month asserted Foxconn’s intention to increase investments in India, where it already operates nine production campuses and more than 30 factories employing tens of thousands of people. The company is in the early stages of expanding further in the country, where it takes in around $10 billion of revenue annually, Liu said.
In July this year had proposed to set up an INR 8,800 crore supplementary plant to that of the unit at Devanahalli Information Technology Investment Region (ITIR) in Karnataka.
Furthermore, Apple Inc.has announced plans to make the India-built iPhone 15 available in the South Asian country and some other regions on the global sales debut day, according to a Bloomberg report.
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