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Report: Apple supplier Foxconn to invest $1 billion in India

Jul 11, 2020 14:53 IST

Taiwanese contract manufacturer Foxconn that assembles iPhones in India is reportedly looking to invest up to $1 billion in India. This comes amid Apple's bid to partially move its production lines away from China to avoid disruptions from a trade war between Beijing and Washington. News agency Reuters reported that the investment will take place at the Sriperumbur plant, located near Chennai, over the course of three years. This will add some 6,000 jobs at the plant.