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Foxconn investment proposal cleared by Karnataka high-level committee
Foxconn investment proposal cleared by Karnataka high-level committee

Bengaluru, March 22 : The State High Level Clearance Committee headed by chief minister Basavaraj Bommai on Monday cleared a proposal from the Hon Hai Technology Group (Foxconn), the biggest contract manufacturer in the world, to set up a mobile phone manufacturing unit near the international airport in Bengaluru at an investment of Rs 8,000 crore.

The committee's clearance follows a MoU between the state government and Foxconn during the visit of a high-level delegation led by its chairman Young Liu to Bengaluru. At the time of signing of the MoU, details about neither the investment figure nor the number of potential jobs the proposed unit will add were available.

Foxconn's increased India push is triggered by strong domestic demand for iPhones as well as a surge in exports from India led by the diversification of global supply chains away from China. The company already manufactures iPhones in India. It has facilities in Tamil Nadu, Andhra Pradesh and Telangana.

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