Foxconn To Invest 1 Billion In Tamil Nadu Plant Repor

NEW DELHI: Foxconn, the company that makes Apple’s iPhones, is looking to invest $1 billion to expand its factory in Tamil Nadu, according to a report by Reuters. The move is reportedly part of Apple’s moves to shift iPhone production away from China and hence reduce its dependence on the country. The investment will take place over three years, which is within the time frame for the Indian government’s new production-linked incentive (PLI) scheme. Earlier reports had indicated that Foxconn was amongst the companies which had applied to be amongst the government’s five “foreign champions" for receiving the benefits from the scheme.

Url : https://www.livemint.com/news/india/foxconn-to-invest-1-billion-in-tamil-nadu-plant-report/amp-11594437407812.html

Main category : Multimedia

Sub category : Mobiles

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Added : 2023-07-11

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