Newsletter
Foxconn, a key Apple supplier and global electronics manufacturer, is making a ₹21,911 crore bet on Bengaluru, setting up a mobile phone manufacturing plant in the Devanahalli Industrial Area.
The facility will assemble 20 million smartphones annually on a 300-acre plot, with production expected to start soon.
Karnataka is rolling out ₹6,970 crore in incentives under its Electronics System Design and Manufacturing (ESDM) policy for the company. This would make Foxconn the first electronics giant to receive such a large package in the state.
The move also solidifies Bengaluru’s position as a rising hub for high-end electronics manufacturing, which due to rising costs, poor infrastructure, and other structural issues, was lately being questioned.
