On Monday, Telangana’s IT minister said that Apple Inc. (AAPL.O) supplier Foxconn (2317. TW) would invest $500 million in manufacturing plants.
K. T. Rama Rao tweeted that the initial investment will create 25,000 employees.
Reuters reported in March that Foxconn had landed an Apple AirPods contract and planned to build a factory in India.
Apple has moved manufacture from China, where COVID-19 limitations delayed iPhone and other gadget production. Beijing-Washington tensions might potentially hurt the tech company.
Karnataka approved Foxconn’s $968 million investment in late March.
