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Apple manufacturing plants are moving from China to India, Foxconn announced to invest Rs 7,500 crore in India!

All American companies are leaving their manufacturing plants in China and moving to other countries. As a result, even Chinese companies began to relocate their plants to countries such as India in the interests of their customers. As part of this, Foxconn plans to invest up to $ 1 billion (approximately Rs 7,500 crore) to develop a factory in Sriperumbudur, Tamil Nadu. Foxconn is the company that manufactured and supplied iPhones to Apple.
Foxconn’s latest move comes amid a trade war between Beijing and Washington and the Coronavirus crisis that has hampered iPhone manufacturing. US President Trump has already called for the closure of China’s iPhone manufacturing plants. It is understood that Apple’s move is to slowly abandon manufacturing in China.
A source familiar with the matter told Reuters that Apple is under pressure to remove part of the iPhone from China. A Foxconn spokeswoman said it was not responding to customers’ concerns. It is learned that Foxconn’s planned investment in the Sriperumbudur plant, 50 km west of Chennai, will take place within three years. The plan is to manufacture the iPhone XR from the plant here. A Foxconn spokesman said that Apple was in talks to build some other iPhone models from its plant in India and that all plans were private and details were yet to be decided. The Foxconn plant will employ about 6,000 people. There is also a special plant in the southern Indian state of Andhra Pradesh. Here the smartphones are manufactured in association with the Chinese company Shomi.
Liu Young-Wei, chairman of Foxconn, had earlier said he would increase investment in India. Apple accounts for 1% of smartphone sales in India, the world’s second-largest smartphone market. Making more phones in the country will help Apple save on import taxes.
The central government is working with companies like Foxconn to boost electronics manufacturing. Last month, the government launched projects worth $ 6.65 billion. The government is encouraging five global smartphone makers to set up or expand domestic production plants. Apple’s expanding regional presence with the aim of creating new jobs will give impetus to Prime Minister Narendra Modi’s flagship ‘Make in India’ project.

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