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Exclusive-Foxconn tells India recruiters: Nix marital status in iPhone job ads Apple supplier Foxconn has ordered the hiring agents that help recruit iPhone assembly workers in India to remove age, gender and marital criteria as well as the manufacturer's name in job advertisements, according to three people familiar with the matter and almost a dozen ads reviewed by Reuters. The moves follow a Reuters investigation published June 25, which found that Foxconn excluded married women from jobs at its main India iPhone assembly plant, though it relaxed the practice ...
Exclusive-Foxconn tells India recruiters: Nix marital status in iPhone job ads
Exclusive-Foxconn tells India recruiters: Nix marital status in iPhone job ads
Source: Reuters
2024-11-18 10:21:37 am
Apple continues to drive India`s mobile manufacturing growth story As India continues to break all previous records on local mobile manufacturing, tech giant Apple is on course to surpass the FY24 figures of exports from India, reaching over Rs 50,000 crore (more than $6 billion) in the first six months this fiscal (FY25), according to latest industry data.  The iPhone exports from India surged to cross $10 billion in 2023-24 from $6.27 billion in 2022-23. Overall, the iPhone maker’s India operations reached $23.5 billion in value in the last f...
Apple continues to drive India`s mobile manufacturing growth story
Apple continues to drive India`s mobile manufacturing growth story
Source: IANS
2024-10-29 03:53:55 pm
India`s IndoSpace to dial up investment in Tamil Nadu state to meet warehouse demand Warehouse developer IndoSpace said on Tuesday it will increase investment in the southern state of Tamil Nadu by 41% over the next three years, to meet increasing demand for industrial parks as more companies set up bases in India. Warehouse developers are facing a mad demand rush as companies bet on the country's economic boom and try to diversify supply chains beyond China. India's warehousing market is expected to more than double to $37 billion by 2032, consulting firm IMARC...
India`s IndoSpace to dial up investment in Tamil Nadu state to meet warehouse demand
India`s IndoSpace to dial up investment in Tamil Nadu state to meet warehouse demand
Source: Reuters
2024-10-08 03:45:11 pm
PLI booster: Apple ecosystem to create 5-6 lakh jobs in India Riding on robust local production as iPhone manufacturing plants in India continue to create new export records each month, Apple is all set to create 5-6 lakh jobs (direct and indirect) in the coming 1-2 years.  As iPhone exports continue to clock around $1 billion each month thanks to the government’s production-linked incentive (PLI) scheme, the tech giant employs about 2 lakh people, dominated by women employees, across its supply chain that includes vendors and component su...
PLI booster: Apple ecosystem to create 5-6 lakh jobs in India
PLI booster: Apple ecosystem to create 5-6 lakh jobs in India
Source: IANS
2024-08-27 11:00:31 am
Foxconn invests Rs 1,200 cr in Karnataka-based subsidiary in big manufacturing push In a boost to local electronics manufacturing, Foxconn has pumped in nearly $144 million (Rs 1,200 crore) into its Karnataka-based subsidiary, according to the company’s regulatory filing.  The key iPhone contract manufacturer has infused the money in Foxconn Hon Hai Technology India Mega Development Pvt Ltd, via its Singapore-based arm Foxconn Singapore Pte, which bought over 120.35 crore shares at Rs 10 per share, according to the filing. With this, Foxconn Singapore's ...
Foxconn invests Rs 1,200 cr in Karnataka-based subsidiary in big manufacturing push
Foxconn invests Rs 1,200 cr in Karnataka-based subsidiary in big manufacturing push
Source: IANS
2024-08-23 06:11:59 pm
India mobile phone exports reach $6.5 billion in April-July, iPhones lead Led by iPhones, exports of mobile phones from India reached $6.5 billion in the April-July period (Q1 FY25) – an almost 40 per cent surge from the same period last fiscal (FY23), industry data showed on Thursday.  iPhone exports surpassed $1 billion in the month of July – almost similar month-on-month performance as seen in the first quarter of FY25 -- led by the production-linked incentive (PLI) scheme. Currently, iPhone exports constitute about 70 per cent of the tota...
India mobile phone exports reach $6.5 billion in April-July, iPhones lead
India mobile phone exports reach $6.5 billion in April-July, iPhones lead
Source: IANS
2024-08-22 03:01:59 pm
Foxconn's India biz surges to $10 bn, Apple's India operations at $23.5 bn in value In a big boost to the ‘Make in India’ initiative, especially the production-linked incentive (PLI) scheme, Taiwanese contract manufacturing giant Foxconn’s business in India has surged to 10 billion dollars till last fiscal.  On the other hand, Apple’s India operations reached 23.5 billion dollars in value in the last fiscal (FY24), further cementing the country’s position as a viable alternative to China and Vietnam when it comes to manufacturing. Fox...
Foxconn's India biz surges to $10 bn, Apple's India operations at $23.5 bn in value
Foxconn's India biz surges to $10 bn, Apple's India operations at $23.5 bn in value
Source: IANS
2024-08-19 10:12:54 am
Foxconn’s investments to help India become global manufacturing hub: Ashwini Vaishnaw The investment plans by Hon Hai Technology Group (known as Foxconn) will help India become a global manufacturing hub, Union Minister for Railways, Electronics and IT and I&B, Ashwini Vaishnaw, said on Friday.  The Minister met Young Liu, Chief Executive Officer and Chairman of Foxconn, in the national capital. In a post on social media platform X, Minister Vaishnaw said: “As we strive to make Bharat a global manufacturing hub, thanks to Foxconn’s Chairman Young Liu...
Foxconn’s investments to help India become global manufacturing hub: Ashwini Vaishnaw
Foxconn’s investments to help India become global manufacturing hub: Ashwini Vaishnaw
Source: IANS
2024-08-16 11:14:14 am
India`s PM Narendra Modi meets Foxconn chief amid government probe into hiring practices Indian Prime Minister Narendra Modi met Foxconn Chairman Young Liu to discuss the latter's investment plans on Wednesday, weeks after New Delhi started investigating possible discriminatory hiring practices at a Foxconn plant following a Reuters report. Modi "highlighted the wonderful opportunities India offers in futuristic sectors" to Liu at the meeting, he said in a post on X that included photos of the pair.  "We also had excellent discussions on their invest...
India`s PM Narendra Modi meets Foxconn chief amid government probe into hiring practices
India`s PM Narendra Modi meets Foxconn chief amid government probe into hiring practices
Source: Reuters
2024-08-15 10:31:32 am
PM Narendra Modi meets Foxconn Chairman, discusses investments in `futuristic sectors`  Prime Minister Narendra Modi on Wednesday met Young Liu, Chief Executive Officer and Chairman of Hon Hai Technology Group (known as Foxconn) and discussed several opportunities in “futuristic sectors” like artificial intelligence (AI), semiconductors, local electronics manufacturing and more.  A key Apple supplier, Taiwanese technology giant Foxconn leads the total iPhone exports from the country, at about 65 per cent, from its factory in the country. “Wonde...
PM Narendra Modi meets Foxconn Chairman, discusses investments in `futuristic sectors`
PM Narendra Modi meets Foxconn Chairman, discusses investments in `futuristic sectors`
Source: IANS
2024-08-14 06:10:39 pm
India, Vietnam key beneficiaries as global firms scout for supply chains outside of China: Nomura As the multi-national companies recognise the importance of diversifying supply chains, India and Vietnam are the key beneficiaries as global firms are looking for supply chain alternatives outside of China, a new report by global investment bank Nomura has stressed. According to the global brokerage, India with its robust manufacturing policies and Vietnam are set to benefit as companies look for supply chain alternatives to China. A key factor for India being a natural choice to set u...
India, Vietnam key beneficiaries as global firms scout for supply chains outside of China: Nomura
India, Vietnam key beneficiaries as global firms scout for supply chains outside of China: Nomura
Source: IANS
2024-05-28 05:37:55 pm
From zero presence in 2014 to becoming world`s supply chain hub, India an `ideal place to do biz` From zero presence in the global supply chain 10 years back, India now has a significant role to play in the supply chain ecosystem across industries, creating huge investment and job opportunities, Union Minister Rajeev Chandrasekhar has said.  The minister reacted to a commentary piece in Forbes which mentioned that for supply chain leaders, India is a promising new region with lower tariffs, lower landed costs, and special incentives for many industries, under the visionary leaders...
From zero presence in 2014 to becoming world`s supply chain hub, India an `ideal place to do biz`
From zero presence in 2014 to becoming world`s supply chain hub, India an `ideal place to do biz`
Source: IANS
2024-05-22 04:03:36 pm
India-Taiwan trade may reach $25 billion via investments, tech sharing As India-Taiwan economic partnership grows significantly in recent years, the trade between the two countries may reach $25 billion via investment and technology sharing, industry leaders have said. Peter Huang, specialist of South Asia section (Market Development Department), Taiwan External Trade Development Council, who led a high-level delegation here, said that India is a friendly and hospitable country for Taiwanese industry. "Our commercial relation is growing from strength ...
India-Taiwan trade may reach $25 billion via investments, tech sharing
India-Taiwan trade may reach $25 billion via investments, tech sharing
Source: IANS
2024-05-08 12:51:20 pm
India gives over $1 billion incentives to private firms under its manufacturing scheme, official says India has paid $1.02 billion as incentives to boost local manufacturing, following over $13 billion in investments from private firms under a scheme introduced in 2020, a top government official said on Wednesday. The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India's key industrial policy and covers 14 sectors ranging from electronic products to drones. Critical to Prime Minister Narendra Modi's plans to promote India as a global manufacturing...
India gives over $1 billion incentives to private firms under its manufacturing scheme, official says
India gives over $1 billion incentives to private firms under its manufacturing scheme, official says
Source: Reuters
2024-04-04 12:34:16 pm
Mobile phone manufacturing in India scripts an unmatched success story  The growth of mobile phone production in India over a decade is being described as an unmatched success story in the manufacturing sector. While 78 per cent of all the mobile phones sold in the country in 2014 were imported, about 97 per cent of the mobile phones are now manufactured in India. According to the industry body, India Cellular & Electronics Association (ICEA), mobile phone production, in value terms has surged from Rs 18,900 crore in 2014-15 to an estimated Rs 4.1...
Mobile phone manufacturing in India scripts an unmatched success story
Mobile phone manufacturing in India scripts an unmatched success story
Source: IANS
2024-03-10 02:40:40 pm
Telangana CM congratulates Foxconn Chairman for Padma award Telangana Chief Minister A. Revanth Reddy has congratulated Young Liu, Chief Executive Officer and Chairman, Hon Hai Technology Group (Foxconn) on being bestowed with the Padma Bhushan. In a letter to Young Liu, the Chief Minister extended heartiest congratulations on behalf of the people of Telangana and also invited him to visit Hyderabad when he comes to India for the investiture ceremony. The Chief Minister wrote that his contribution to the semiconductor technology revolution in th...
Telangana CM congratulates Foxconn Chairman for Padma award
Telangana CM congratulates Foxconn Chairman for Padma award
Source: IANS
2024-01-31 10:22:35 am
Foxconn to partner with India's HCL Group for chip testing plant  Taiwan's Foxconn will partner with tech firm HCL Group for a semiconductor assembly and testing facility in India, the companies said on Thursday. The firms will set up an outsourced assembly and testing (OSAT) unit in the south Asian nation. An OSAT plant packages, assembles and tests foundry-made silicon wafers, turning them into finished semiconductor chips. Foxconn said in a regulatory filing that its India unit will own a 40% stake in the joint venture with a $37....
Foxconn to partner with India's HCL Group for chip testing plant
Foxconn to partner with India's HCL Group for chip testing plant
Source: Reuters
2024-01-18 10:19:50 am
Foxconn gets approval to invest $1 bn more in Apple India plant Taiwanese contract manufacturer Foxconn has received approval to invest at least $1 billion more in a plant in India that will manufacture Apple products, a significant step towards its aim of establishing a hub outside of China, a media report said on Wednesday. Bloomberg reported citing sources that Foxconn intends to spend the approved amount on top of the $1.6 billion it earlier set aside for the 300-acre site close to the Bengaluru airport. The new amount will bankroll additional capa...
Foxconn gets approval to invest $1 bn more in Apple India plant
Foxconn gets approval to invest $1 bn more in Apple India plant
Source: IANS
2023-12-13 04:52:36 pm
Apple iPhone maker Foxconn to invest $1.5 bn in India  Taiwanese contract manufacturer Foxconn plans to invest $1.54 billion in India, as the country doubles down on local manufacturing. In a stock exchange filing, Foxconn said that the investment will help it fulfil “operational needs.” The company, however, did not provide further details. Foxconn is the main assembler of Apple iPhones and both companies are keen to move away from China and create alternative supply chains. Foxconn already has an iPhone factory in ...
Apple iPhone maker Foxconn to invest $1.5 bn in India
Apple iPhone maker Foxconn to invest $1.5 bn in India
Source: IANS
2023-11-28 12:04:06 pm
India grants incentives for Dell, HP, Foxconn to make IT hardware locally The Indian government has approved investments by 27 companies including Dell, HP and Foxconn under its $2 billion incentive scheme to manufacture IT hardware domestically. Information technology minister Ashwini Vaishnaw said the companies are expected to invest 30 billion Indian rupees ($360 million) collectively, while creating 50,000 jobs in the sector. Approvals have also been granted to domestic manufacturers including Dixon Technologies and VVDN, the minister said. The governm...
India grants incentives for Dell, HP, Foxconn to make IT hardware locally
India grants incentives for Dell, HP, Foxconn to make IT hardware locally
Source: Reuters
2023-11-19 08:56:55 am
Foxconn aims to double jobs, investment in India over next 12 months Apple supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.Taiwan-based Foxconn, the world's largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country.V Lee, Foxconn's representative in India, in a LinkedIn post to mark Indian Prime Minister Narendra Modi's 73rd birthday, said the company was "aiming for another doubling of emplo...
Foxconn aims to double jobs, investment in India over next 12 months
Foxconn aims to double jobs, investment in India over next 12 months
Source: Reuters
2023-09-19 10:16:19am
Electronics & IT Minister Vaishnaw backs Foxconn`s plan to double investment in India Minister for Electronics & Information Technology Ashwini Vaishnaw on Monday said the government was "fully committed" to support Taiwanese electronics giant Foxconn's ambitious plans to double its manufacturing capacity in India.Foxconn, the world?s largest contract manufacturer of electronics, is looking at India to set up an alternative supply chain outside China.??"Fully committed to support and facilitate," Vaishnaw said on X in response to Foxconn India representative V Lee's LinkedIn p...
Electronics & IT Minister Vaishnaw backs Foxconn`s plan to double investment in India
Electronics & IT Minister Vaishnaw backs Foxconn`s plan to double investment in India
Source: IANS
2023-09-18 04:52:00pm