Foxconn To Invest $600 Million In Karnataka To Set Up 2 Manufacturing Units, One For Iphone Components And Another For Chipmaking Machinery

Taiwanese electronic manufacturing behemoth Foxconn will invest $600 million in two projects in Karnataka for chip equipment manufacturing and casing components for iPhones, the state Industries department announced.

Foxconn invest $250 million to set up a production facility where it aims to produce chipmaking tools in partnership with Applied Materials, a key player globally in the semiconductor equipment making industry. 

The proposed investment for this venture amounts to $250 million (Rs 2,000 crore), and it is anticipated to create employment opportunities for around 1,000 individuals", a release from the state industries department said.

The Taiwanese major will also invest $350 million to set up a unit to manufacture casing components for smartphones, including Apple’s iPhones. This unit is expected to generate 12,000 jobs.

Applied Materials recently announced that it is establishing a $400 million collaborative engineering center in India at Bengaluru that will work with both domestic and global suppliers to drive Semiconductor manufacturing equipment R&D

The investment decisions follow a meeting between Foxconn Chairman Young Liu, Karnataka's IT minister Priyank Kharge, and Industries Minister MB Patil.

Liu said: "We are excited about the possibilities that Karnataka offers for our expansion plans in India. The state's conducive business environment, coupled with its skilled workforce, makes it an attractive destination for our high-tech ventures. We look forward to building our success story with the state."