This company may invest Rs 8,800 crore for iPhone manufacturing plant in Karnataka, not Ambani's Reliance, Tata Group

Foxconn is considering plans to build a second iPhone production facility in Karnataka, which would result in the creation of 14,000 jobs. The idea was presented on Monday morning during a high-level meeting between Chief Minister Siddaramaiah and representatives of Foxconn Industrial Internet. 

Foxconn Industrial Internet (Fii) has expressed its interest to invest Rs 8,800 crore in Karnataka.

Karnataka Welcomes #Foxconn Industrial Internet (#FII) Company's Mega Investment, Boosting Tech Sector and Job Opportunities!

 Rs. 8,800 Cr of investement
 14,000+ job opportunities

Participated in a productive discussion with #FII CEO Sri #BrandCheng & his Team, held… pic.twitter.com/PC4DCRJyMR

— M B Patil (@MBPatil) July 17, 2023

The proposed iPhone assembly plant, according to a state government press release, will need around 100 acres of land. It is most likely to be located in Tumakuru, which is around 70 kilometres northwest of Bangalore. It would be utilized to produce the displays and casings for phones that are required. The new plant would act as a support facility for the Devanahalli final assembly unit.

Siddaramaiah emphasized the coordination between academia and industries throughout the conference and emphasized the favourable atmosphere the state has for industrial growth.

He urged them to establish the unit in the state and gave the Fii team, led by CEO Brand Cheng, the assurance that the government will make talented human resources more readily available.

“Foxconn is coming up in about 300 acres. They will invest USD one billion, which is ₹8,400 crore, and will create 50,000 employment in the first phase. The company has planned to start production at the plant by next April," the Minister had said.