Foxconn, a Taiwanese electronics contract maker, plans to invest $500 million to set up manufacturing plants in the southern Indian state of Telangana.
With the investment, Foxconn aims to extend its base in the South Asian market and create twenty-five thousand direct jobs in the first phase.
Earlier this year, Foxconn secured a bid to manufacture airpods in India and also bought land worth $37 million in Bengaluru earlier this month.
Moreso, the investment will also increase production yield locally, and expand its iPhone manufacturing capacity in India to produce 25 percent of all iPhones by 2025.