Foxconn, an Apple supplier, will invest $500 million in the Indian state of Tyrongana, where construction of its first factory broke ground today.
CTOnews.com, May 15 (Xinhua) Apple supplier Foxconn broke ground today on its first plant in the southern Indian state of Telangana. Foxconn will invest $500m (CTOnews.com Note: currently about 3.48 billion yuan) in the region and directly create 25000 jobs, the state's IT minister revealed on Monday.
In addition, Foxconn bought 1.2 million square meters of land at Devanahalli, near Bangalore airport, for 3.038 billion rupees (256 million yuan), according to an official filing with the London Stock Exchange last week.
Basavaraj S. Bommai, chief minister of Karnataka, India, said in March that Apple would produce the iPhone "soon" at a new plant that would create "about 100000 jobs."
Navkendar Singh of international data, a market intelligence firm, told AFP that Apple had a "huge success" in India, where it sold 6.7 million iPhone units last year.