The Uttar Pradesh government is reportedly in talks with iPhone manufacturer Foxconn to set up a new facility in the Greater Noida region.
According to sources, UP government officials and representatives of the Taiwanese company have already held two rounds of meetings at Delhi and Lucknow on the proposed project. The new facility is likely to centre around mobile phone manufacturing.
The Greater Noida facility would add to the company’s, which is Apple’s largest contract manufacturer globally, existing base in the country.
The facility is proposed to be set up on around 300-acres of land. It would be in addition to the 50-acre joint venture project that Foxconn has with HCL for an outsourced semiconductor assembly and test facility, sources said. Meanwhile, reports from earlier in the year had indicated that HCL-Foxconn joint venture, which is separate from this new plant, has begun talks with Larsen & Toubro (L&T) as well as Taiwanese major CTCI for the semiconductor assembly and testing (OSAT) facility. The JV is also awaiting Cabinet approval. Foxconn is reportedly investing $37.2 million to hold a 40 per cent stake in the venture.
The new facility is expected to create 40,000 jobs and will include residences for all workers inside the complex.
Sources added that the UP government was interested in the project as the Noida-Greater Noida region already accounts for nearly 50 per cent of all mobile phone exports from the country.
“There is no better place than UP to have a facility for Apple. Locating it in Noida will add to the ecosystem in the region,” sources added.
Foxconn started manufacturing iPhone 15 in its Tamil Nadu facility in Sriperumbudur in 2023. Apple ferried 600 tons of iPhones, or as many as 1.5 million, to the US just after announcements of Trump’s tariffs. The company lobbied Indian airport authorities to cut the time needed to clear customs at the Chennai airport from 30 hours to six hours.
Disclaimer: Moneywealth research provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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