Foxconn, the Taiwan-based electronics manufacturer, has applied to establish a semiconductor fabrication unit in India, BusinessToday is reporting.
This initiative aligns with the government’s scheme aimed at boosting the country’s electronics manufacturing sector, specifically semiconductor production.
Rajeev Chandrasekhar, Minister of State for Electronics and IT, revealed this application to Parliament.
The government’s strategy includes incentivizing investments in electronic goods and promoting exports to elevate the electronics manufacturing landscape.
Despite a recent withdrawal from a chip plant joint venture, Foxconn is keen on India’s semiconductor sector.
Micron’s approval for a semiconductor unit under the Semicon India program in June 2023 has further spurred momentum in this industry, with construction underway.
Foxconn’s interest in India extends beyond semiconductors. The company aims to double its workforce and investment by next year, continuing its expansion.
As a major supplier to Apple, Foxconn seeks to diversify its operations away from China, expanding its footprint in southern India.
V Lee, Foxconn’s representative, expressed aspirations to amplify employment, foreign direct investment (FDI), and business size in India. However, detailed plans were not provided.
Foxconn already operates an iPhone factory in Tamil Nadu, employing 40,000 individuals.
In Karnataka, Foxconn announced a $600 million investment in two projects focusing on iPhone casing components and chip-making equipment.
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