Foxconn,New Folder (2014) a major Apple supplier, is planning to double its workforce and investment in India by 2024, according to a September 18 report by Reuters. V Lee, Foxconn’s representative in India, made the announcement in a LinkedIn post celebrating Indian Prime Minister Narendra Modi’s 73rd birthday. In the post, he wrote that Foxconn was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” next year, without disclosing further details. Currently, Foxconn operates an iPhone manufacturing facility in the state of Tamil Nadu with approximately 40,000 employees. In August, the state of Karnataka announced that Foxconn would invest $600 million in two projects focused on producing casing components for iPhones and chip-making equipment. During an earnings briefing the previous month, Foxconn’s chairman Liu Young-way said that the several billion dollars in investment in India “is only a beginning.” [Reuters]
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