Foxconn declaration shot in the arm for newly-elected Cong govt in K’taka

Apple Inc supplier Foxconn, the world’s biggest contract electronics manufacturer, is all set to manufacture iPhone units at its proposed plant in Devanahalli by 2024 April.

The declaration has come as a shot in the arm for the newly-elected Congress government in Karnataka.

The announcement came at a time when the opposition BJP, JD(S) and a section of experts are claiming that the state will lose its tag as the most favourable destination for attracting Foreign Direct Investment (FDI).

The process of Foxconn’s investment in Karnataka began during the previous BJP regime. Ex-CM Basavaraj Bommai and former Minister for Large and Medium Industries Murugesh Nirani had made the big announcement regarding Foxconn setting up its manufacturing unit near Bengaluru.