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(Adds context in paragraphs 2-6)
Dec 12 (Reuters) – Apple supplier Foxconn plans to invest another 139. 11 billion rupees ($1. 67 billion) in the Indian state of Karnataka, the state government said in a statement on Tuesday.
The Taiwan-based company, which assembles around 70% of iPhones and is the world’s largest contract manufacturer, has been diversifying production away from China following COVID-19 disruptions and geopolitical tensions.
It has expanded its presence in India over the last year by investing heavily in production facilities in the south of the country.
In Karnataka state itself, the company announced in August an investment of $600 million in two projects to make casing components for iPhones and chip-making equipment.
Foxconn is also expected to start manufacturing iPhones in the southern state by April 2024 – a project expected to create around 50,000 jobs.
The government did not elaborate on the latest plans for the additional investment in Karnataka, and Foxconn did not immediately respond to an email seeking comment.
($1 = 83.3900 Indian rupees) (Reporting by Munsif Vengattil; Writing by Kanjyik Ghosh and Sakshi Dayal; Editing by Devika Syamnath and Tomasz Janowski)