Foxconn commits $500 million to set up new manufacturing unit in India

Apple’s largest contract manufacturer Foxconn, or Hon Hai Precision Industry Co, has committed to investing $500 million in setting up a new manufacturing unit in the Indian state of Telangana.

“Demonstrating the ‘Telangana Speed’, I am happy to announce the groundbreaking of first of Foxconn’s plants in Telangana at Kongar Kalaan today. With an investment of over $500M it shall create 25,000 direct jobs in first Phase,” Telangana’s IT minister KT Rama Rao said in a tweet.

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Source:: Computerworld