Foxconn is set to invest a total of $600 million in two projects in Karnataka, India, according to an agreement signed with the state government. The company, known for assembling iPhones, plans to establish a smartphone component manufacturing unit, contributing $350 million. A second plant, with an additional $250 million investment, will focus on chipmaking tools in partnership with Applied Materials.
Karnataka’s Minster for Large & Medium Industries and Infrastructure Development, M B Patil, confirmed the developments, revealing they followed discussions between Foxconn chairman Young Liu and Karnataka’s IT Minister Priyank Kharge.
The projects, a phone enclosure venture under Foxconn subsidiary FII and a collaboration with US-based Applied Materials for semiconductor equipment, are expected to create around 14,000 job opportunities in Karnataka.
Kharge highlighted the potential for innovation in chipmaking tools through this endeavor, suggesting it marks the onset of a thriving manufacturing ecosystem, not only in Karnataka but across India.
Furthermore, there are indications that Foxconn is exploring opportunities beyond Karnataka. Tamil Nadu Chief Minister M K Stalin mentioned discussions with the company regarding a mobile component manufacturing facility in Kancheepuram, indicating potential expansion into Tamil Nadu.
