After Bengaluru, India, Foxconn is opening a factory to manufacture iPhones in Telangana. 500 million dollars or 4 thousand 114 crore rupees will be invested to open the new factory. And 25 thousand jobs will be created in that factory.
The construction of the factory was inaugurated on Monday. Telangana Industry and Technology Minister KT Rama Rao and Foxconn Chairman and CEO Sidney Lu were present on the occasion.
Apple has already opened two retail stores in Delhi and Mumbai due to the continuous increase in demand for iPhone in the Indian market. The CEO of Apple has also said to build a factory for the production of iPhone, iPod and other parts of Apple in the country. Foxconn, a Taiwanese manufacturer and supplier of iPhone components, has already acquired land for a factory in Bengaluru. Now it has decided to open a factory in Hyderabad as well.
Telangana Industry and Technology Minister KT Rama Rao said that Foxconn will invest Rs. 4,114 crore in the first phase. About 25 thousand people will be employed in here.