According to a statement from the state administration on Thursday, iPhone production by Apple supplier Foxconn will begin in the state of Karnataka in southern India by April 2024.
The government announced that Foxconn would receive the factory's land by July 1 and that the project, which is estimated to cost Rs. 130 billion, will support 50,000 jobs.
The plant in Devanahalli, on the outskirts of the state capital and innovation hub Bengaluru, is where Foxconn, the largest contract electronics manufacturer in the world, plans to produce 20 million iPhones annually.
After China's onerous COVID-related regulations hampered the production of new iPhones and other gadgets there, Apple began to transfer production away from that nation.
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The IT behemoth is also attempting to prevent a blow to its industry brought on by tensions between Beijing and Washington.
When Reuters contacted Foxconn for comment, a spokesman did not answer right away.
Meanwhile, insiders predict that certain candidates, including Vedanta Foxconn JV, may reapply for government subsidies under the redesigned semiconductor programme that will be available starting 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) to 50% of the project cost under the Modified Semicon India Programme.
The rewards in the previous approach were based on the size of the wafer node.
The establishment of display fabs using particular technologies in India is also eligible for a tax credit equal to 50% of the project cost, according to a statement released on Wednesday.
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