New Delhi 11/5: Apple Inc’s partner Foxconn Technology Group on Monday bought 13 million square feet of land in Devanhalli area near Bengaluru Airport. According to information, Foxconn’s subsidiary Hone High Technology India Mega Development Private Limited has informed the London Stock Exchange.
The company bought the land for 303 crore rupees
The company bought this land in Bengaluru for 37 million dollars or 303 crore rupees. Foxconn Technology Group will build a manufacturing plant on this land. According to reports, the company will also assemble Apple’s handsets in addition to manufacturing parts at this plant. Foxconn may also use the site to produce parts for its new electric vehicle business. A Bloomberg report first said that Foxconn Technology Group plans to invest about $700 million (about Rs. 5.7 billion) in a new plant in India to increase local production.
Construction of this plant in India is expected to create about 1 lakh jobs. The company’s huge iPhone assembly complex in Zhangzhou, China currently employs 2,000,000 workers. However, this number increases during the peak production season. Foxconn’s investment in India is the company’s largest single investment so far.
It is said that iPhone manufacturing started in India from April 2017 with iPhone SE. Its three electronics manufacturing service partners are Foxconn, Wistron and Pegatron. After iPhone SE, it has also manufactured iPhone 11, iPhone 12 and iPhone 13 in India. Apple’s 3 contract manufacturing projects are part of the Indian government’s Rs 41,000 crore production-linked incentive scheme. After this scheme, there has been an increase in iPhone production in India. In 2020, the Government of India launched the PLI scheme.