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.
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