India announces US$1.7 billion Foxconn expansion

The Indian government revealed chip manufacturer Foxconn will invest INR139.11 billion (US$1.67 billion) a further in Karnataka state, a move by the Taiwan-based company to diversify away from its reliance on China. 

Reuters reported, the Taiwanese-based manufacturer, has been expanding its footprint in India over the past year by opening massive manufacturing facilities. It has also as well as Vietnam and Mexico. 

Foxconn announced in August it would invest US$600 million in two projects to manufacture casing components for iPhones and chip-manufacturing gear, in Karnataka state. The company will also start building iPhone in the state by April next year a venture that will create 50,000 jobs.