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The state government of Karnataka, in southern India, said on Thursday that Apple supplier Foxconn will begin producing iPhones there by April 2024.
The government claimed the site for the facility will be given over to Foxconn by July 1, and that the project, worth Rs. 130 billion, would create roughly 50,000 employment.
Foxconn, the world's largest contract electronics maker, has set a goal of producing 20 million iPhones per year at its facility in Devanahalli, on the outskirts of Bengaluru, the state capital and technology powerhouse.
After China's rigorous COVID-related regulations hampered the manufacture of new iPhones and other gadgets, Apple has begun relocating production away from the nation. The IT behemoth is also attempting to prevent a blow to its company as a result of tensions between Beijing and Washington.
A Foxconn representative did not immediately reply to Reuters' request for comment.
Meanwhile, other candidates, including the Vedanta Foxconn JV, are anticipated to reapply for government subsidies under the updated semiconductor plan, which will open on June 1. The government has enhanced the financial incentive for businesses, consortia, and joint ventures to set up semiconductor fabs in India of any node (wafer size) under the Modified Semicon India Programme to 50% of the project cost.
The rewards under the previous approach varied according to the size of the wafer node.
Similarly, a fiscal incentive of 50% of the project cost is available for the establishment of display fabs of certain technologies in India, according to a statement issued on Wednesday.