Karnataka govt gives green signal to Foxconn for its mobile manufacturing unit
By MYBRANDBOOK
The Karnataka government has cleared the big ticket investment of Taiwanese based Foxconn mobile manufacturing unit proposal on the outskirts of Bengaluru, worth Rs 8,000 crore. The investment proposal includes 10 new investment proposals, with the Foxconn project getting the green signal from the state government to set up their unit that will span across the Doddaballapur and Devanahalli taluks of Bengaluru rural district.
The project was approved in the State High Level Clearance Committee (SHLCC) meeting chaired by chief minister Bommai. In all, the SHLCC approved 18 projects worth Rs 75,393 crore generating 77,606 jobs. The Foxconn manufacturing unit, plausibly to make Apple iPhones, will come up on a 300-acre parcel in the Information Technology Investment Region (ITIR).
This formalises a deal that was shrouded by uncertainty after Foxconn said it had not signed any “binding, definitive agreements” in India, only to put Bommai in the dock because he had announced that the company would start making iPhones in the state.
According to details, the proposed Foxconn facility will have a production capacity of one lakh mobile phones by December 2025 and touch two crore by December 2029. Foxconn is expected to invest Rs 3,000 crore in the first phase during the 2023-24 fiscal, Rs 4,000 crore in the second 2025-26 phase and Rs 1,000 crore in the last phase during 2026-27.
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
ID-REDACT® ensures full compliance with the DPDP Act for Indi
Data Safeguard India Pvt Ltd, a wholly-owned subsidiary of Data Safeguard ...
DRUVA SOFTWARE PVT. LTD.
SECLORE TECHNOLOGY PVT. LTD.
QUICK HEAL TECHNOLOGIES PVT. Ltd.
ATRIE TECHNOLOGY PVT. LTD.
Technology Icons Of India 2023: Anil Kumar Aggarwal
Anil Agarwal is an Indian billionaire businessman who is the founder a...
Technology Icons Of India 2023: Natarajan Chandrasekaran
Natarajan Chandrasekaran is the Chairman of the Board of Tata Sons, th...
Technology Icons Of India 2023: Mukesh D. Ambani
An Indian billionaire businessman Mukesh Dhirubhai Ambani is currently...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
INDIANOIL helps reach precious petroleum fuels to every nook and corner of the country
IndianOil, a diversified, integrated energy major with presence in alm...
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...
WPG C&C COMPUTERS & PERIPHERALS PVT. LTD.
WPG C&C Computers & Peripherals (India) was incorporated in 2008 and ...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...