Foxconn says no ‘definitive agreements’ for new India investment

TAIPEI, March 4 — Taiwanese tech giant Foxconn confirmed today that its chairman had visited India, but denied it had “entered into any binding, definitive agreements” after reports saying it was planning new investments in the country.

Foxconn said in a statement today that no deals had been finalised during chairman and CEO Young Liu’s visit to India from February 27 to March 4. The statement comes after the chief minister of Karnataka state, Basavaraj S. Bommai, tweeted yesterday that Apple would “soon” manufacture iPhones at a new plant in the state, creating ”about 100,000 jobs”.

Foxconn said employment figures currently being reported “do not equate to direct jobs” with the company. Foxconn has manufactured Apple handsets in India since 2019 at its plant in the southern state of Tamil Nadu.

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