<p>Taiwanese electronics manufacturer Foxconn, which has commenced assembling high-end Apple iPhones at its manufacturing facility at Sriperumbudur near here, is likely to invest an additional Rs 7,000 crore to expand capacity.</p>.<p>Highly-placed sources in the Tamil Nadu government told DH that the investment is expected to be finalised in the coming months. The expansion will enhance Foxconn’s capacity to assemble iPhones at its Tamil Nadu facility, they said.</p>.<p>Though Apple and Foxconn were tight-lipped about assembling the phones in India, Commerce Minister Piyush Goyal’s office and IT and Communications Minister Ravi Shankar Prasad retweeted reports regarding the development and hailed the move as a “significant boost to Make in India”.</p>.<p>Foxconn's move came amid expectations that several firms, especially those manufacturing electronics, would move out of China as a fallout of the coronavirus outbreak and set up their units in India.</p>.<p><a href="https://www.deccanherald.com/specials/apples-assembled-in-india-iphone-11-hits-stores-865025.html"><strong>Also Read | Apple's 'Assembled in India' iPhone 11 hits stores</strong></a></p>.<p>“In all probability, Foxconn would make an investment of Rs 7,000 crore in Tamil Nadu to expand its Sriperumbudur facility. This is the facility where the company is manufacturing iPhones, and the investment is likely to be finalised in the coming months,” a top government official told DH.</p>.<p>Another official said Foxconn is “impressed” with the workforce that is available in Tamil Nadu and has given enough hints about the fresh investment in the state, despite being wooed by other states too.</p>.<p>“Foxconn was allotted 100 acres a few years ago and they have enough land with them. They are very much interested in investing in Tamil Nadu because of the excellent workforce here. Three ports in and around Chennai is also a major reason for companies preferring the city,” the official explained.</p>.<p>The Twitter handle of Goyal’s office retweeted a media report in this regard and said the assembling of iPhone 11 was a “significant boost to Make in India”.</p>.<p>“Apple has started manufacturing iPhone 11 in India, bringing a top-of-the-line model for the first time in the country,” the tweet read.</p>.<p>Retail sources in Bengaluru also confirmed to DH that the locally assembled iPhone 11 has reached the shelves along with those assembled in China.</p>.<p>Apple had begun production of some of its models at the Wistron plant in Bengaluru in 2016 and now plans to make iPhone SE 2020 at the aforesaid facility.</p>.<p>If the additional investment by Foxconn is finalised, it will be a major boost for Tamil Nadu’s efforts to garner investments from firms that are planning to shift out of China due to the pandemic. Already, the state has signed MoUs with nearly 30 companies for setting up manufacturing units in Tamil Nadu in the midst of the pandemic.</p>.<p>One of the leading destinations for Foreign Direct Investments (FDI) into the country, the state has attracted $29,848 million in FDI from April 2000 to March 2019. According to figures released by the government, Tamil Nadu had retained its position by attracting $2,613 million during 2018-19. It is also the third-largest exporter of goods in the country.</p>
<p>Taiwanese electronics manufacturer Foxconn, which has commenced assembling high-end Apple iPhones at its manufacturing facility at Sriperumbudur near here, is likely to invest an additional Rs 7,000 crore to expand capacity.</p>.<p>Highly-placed sources in the Tamil Nadu government told DH that the investment is expected to be finalised in the coming months. The expansion will enhance Foxconn’s capacity to assemble iPhones at its Tamil Nadu facility, they said.</p>.<p>Though Apple and Foxconn were tight-lipped about assembling the phones in India, Commerce Minister Piyush Goyal’s office and IT and Communications Minister Ravi Shankar Prasad retweeted reports regarding the development and hailed the move as a “significant boost to Make in India”.</p>.<p>Foxconn's move came amid expectations that several firms, especially those manufacturing electronics, would move out of China as a fallout of the coronavirus outbreak and set up their units in India.</p>.<p><a href="https://www.deccanherald.com/specials/apples-assembled-in-india-iphone-11-hits-stores-865025.html"><strong>Also Read | Apple's 'Assembled in India' iPhone 11 hits stores</strong></a></p>.<p>“In all probability, Foxconn would make an investment of Rs 7,000 crore in Tamil Nadu to expand its Sriperumbudur facility. This is the facility where the company is manufacturing iPhones, and the investment is likely to be finalised in the coming months,” a top government official told DH.</p>.<p>Another official said Foxconn is “impressed” with the workforce that is available in Tamil Nadu and has given enough hints about the fresh investment in the state, despite being wooed by other states too.</p>.<p>“Foxconn was allotted 100 acres a few years ago and they have enough land with them. They are very much interested in investing in Tamil Nadu because of the excellent workforce here. Three ports in and around Chennai is also a major reason for companies preferring the city,” the official explained.</p>.<p>The Twitter handle of Goyal’s office retweeted a media report in this regard and said the assembling of iPhone 11 was a “significant boost to Make in India”.</p>.<p>“Apple has started manufacturing iPhone 11 in India, bringing a top-of-the-line model for the first time in the country,” the tweet read.</p>.<p>Retail sources in Bengaluru also confirmed to DH that the locally assembled iPhone 11 has reached the shelves along with those assembled in China.</p>.<p>Apple had begun production of some of its models at the Wistron plant in Bengaluru in 2016 and now plans to make iPhone SE 2020 at the aforesaid facility.</p>.<p>If the additional investment by Foxconn is finalised, it will be a major boost for Tamil Nadu’s efforts to garner investments from firms that are planning to shift out of China due to the pandemic. Already, the state has signed MoUs with nearly 30 companies for setting up manufacturing units in Tamil Nadu in the midst of the pandemic.</p>.<p>One of the leading destinations for Foreign Direct Investments (FDI) into the country, the state has attracted $29,848 million in FDI from April 2000 to March 2019. According to figures released by the government, Tamil Nadu had retained its position by attracting $2,613 million during 2018-19. It is also the third-largest exporter of goods in the country.</p>
