Foxconn receives okay for $968 mn investment in Karnataka, India

The southern Indian state of Karnataka has approved an 80 billion rupee ($967.91 million) investment in the state by a unit of Taiwan’s Foxconn.
Foxconn manufacturing
The investment will lead to the creation of 50,000 jobs, the state government said in a news statement.

Foxconn, the world’s largest contract electronics manufacturer, is in discussions with Indian states, but has not announced any investment plans so far in Karnataka.

The Apple supplier had won an order to make AirPods and planned to build a facility in India to manufacture the wireless earphones, Reuters reported last week.

Apple has been shifting production away from China after the country’s strict COVID-related restrictions disrupted the manufacturing of iPhones and other devices in the country. The tech giant is also looking to avoid a hit to its business due to tensions between Beijing and Washington.