Business News: Foxconn to invest $200 million in Tamil Nadu!| Foxconn | Make in India

According to a media report, a division of Foxconn, the top producer of Apple iPhones, intends to build an electronics manufacturing facility in India. The business is now in negotiations with the Tamil Nadu government to invest up to $200 million.

World's Largest Contract Electronics Manufacturer

Both a representative for Tamil Nadu's industries department and Foxconn, the largest contract electronics manufacturer in the world, declined to comment. In Tamil Nadu, Foxconn already operates a sizable site where it assembles Apple's iPhones. The sources would not elaborate on the concept or specify whether components produced at the prospective factory would be utilised in iPhones or the goods of another company because the discussions are confidential.

According to the first source, Foxconn plans to finish the facility by 2024 and expects to make more investments after that. According to both reports, no final decision has been made. Foxconn is also in discussions with the state of western Gujarat as it seeks to enter India's semiconductor market. This week, the government will host an annual semiconductor event, and its chairman Young Liu is scheduled to speak there.