Home FEATURED NEWS Foxconn goals to double jobs, funding in India over subsequent 12 months

Foxconn goals to double jobs, funding in India over subsequent 12 months

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(Reuters) – Apple provider Foxconn goals to double its workforce and funding in India by subsequent 12 months, an organization government mentioned on Sunday.

Taiwan-based Foxconn, the world’s largest contract producer of electronics, has quickly expanded its presence in India by investing in manufacturing services within the south of the nation as the corporate seeks to maneuver away from China.

V Lee, Foxconn’s consultant in India, in a LinkedIn publish to mark Indian Prime Minister Narendra Modi’s 73rd birthday, mentioned the corporate was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time subsequent 12 months.

He didn’t give extra particulars.

Foxconn already has an iPhone manufacturing facility within the state of Tamil Nadu, which employs 40,000 individuals.

In August, the state of Karnataka mentioned Foxconn will make investments $600 million for 2 initiatives within the state to make casing elements for iPhones and chip-making tools.

The firm’s Chairman Liu Young-way mentioned in an earnings briefing final month that he sees lots of potential in India, including: “several billion dollars in investment is only a beginning”.

(Reporting by Shivani Tanna in Bengaluru; Editing by Susan Fenton)

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