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Apple manufacturer to invest $500M in Indian manufacturing plant, create 25K jobs

Foxconn, also known as HonHai Precision, is investing $500M in a new manufacturing space in the Indian state of Telangana, the state’s IT minister said.

In a tweet posted late on Sunday, K.T. Rama Rao said Foxconn had broken ground at the first of its plants in Kongar Kalaan. The first phase of the investment would create 25,000 jobs, Rao, also known as KTR, added.

Late last month, India’s deputy minister of technology, Rajeev Chandrasekhar, said Apple could triple its investment in the country over the coming years.

Foxconn manufactures a significant number of Apple (AAPL) products, including the iPhone, AirPods and other products.

Apple’s manufacturing partners have expanded in India in recent memory. In March, it was reported that Foxconn and Apple had lobbied for more liberal labor laws in the Indian state of Karnataka.

Pegatron, which produces some iPhone 14 units, has looked into opening a second facility in India in the city of Chennai.

In April, Apple (AAPL) CEO Tim Cook met with Indian Prime Minister Narendra Modi while on a trip to the country, celebrating the store openings in Mumbai and New Delhi. Cook added that Apple (AAPL) is “committed to growing and investing across the country.” SeekingAlpha

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