May 15, 2023
Apple’s leading supplier Foxconn has announced plans to invest $500 million in Telangana..
The investment will create around 25,000 jobs in the initial phase of the project.
The news was announced by Telangana minister KT Rama Rao today.
“Demonstrating the “Telangana Speed”, I am happy to announce the groundbreaking of first of Foxconn’s plants in Telangana at Kongar Kalaan today. With an investment of over $500M it shall create 25,000 direct jobs in first Phase,” Rao tweeted.
The Foxconn plant will be located near Hyderabad, specifically in Kongar Kalaan in Ranga Reddy district.
This investment marks a significant move for Foxconn, the world’s largest manufacturer of iPhones.
Apple has also been focusing on expanding its presence in India. (Photos credit: Reuters)
In addition to Telangana, Foxconn has also acquired a large plot of land near Bengaluru, where it plans to establish another manufacturing facility.