Foxconn to create 25,000 jobs with $500m investment in India

Photo credit: Foxconn

Foxconn, the Taiwan-based manufacturing giant, started the construction of its first plant in Kongara Kalan, an area in India’s southern state of Telangana.

The firm has allocated US$500 million for this facility, which is set to generate 25,000 direct job opportunities during the “first phase,” Telangana’s IT minister K.T. Rama Rao said on Twitter.

Foxconn chair Young Liu previously sent a letter to Telangana chief minister K. Chandrasekhar Rao in March, solidifying the company’s commitment to establishing a manufacturing facility in that area.

Besides Kongara Kalan, Liu was also said to have considered Dundigal – another area in the capital of Telangana. Liu previously said that the project is expected to generate 100,000 jobs over the next 10 years, The Times of India reported.

The iPhone maker’s boss also said that Telangana’s eight years of progress inspired him to double down on the company’s revenue growth efforts. In the first quarter of 2023, Foxconn recorded revenue of NT$12.8 billion (US$415 million), a decrease from NT$29.45 billion (US$955 million) in the same period last year.

In March, it was also reported that Foxconn will invest around US$700 million to build a 300-acre plant near the airport in Bengaluru to accommodate the production of iPhone parts and the assembly of Apple headsets.

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Currency converted from New Taiwan dollar to US dollar: US$1 = NT$30.83.