iPhone maker Wistron to invest ₹900 cr more in its Karnataka facility
This is over and above the Rs 1,947 crore investments the company had announced last year. The revised plan is expected to add 8,000 jobs, in addition to the 10,000 employment target it had previously set, according to a senior government official.
BENGALURU: Taiwanese contract manufacturer Wistron, which makes iPhones for Apple in India, has proposed to increase its investments by Rs 900 crore at its facility in Narasapura, about 70 km from Bengaluru.
This is over and above the Rs 1,947 crore investments the company had announced last year. The revised plan is expected to add 8,000 jobs, in addition to the 10,000 employment target it had previously set, according to a senior government official.
The Taiwanese giant has decided to make a substantial increase in investments as it is expanding its range of manufacturing beyond smartphones to Internet of Things (IoT) products and biotech devices. “There is a considerable increase in the investment compared to the initial sanctioned size. Wistron has now committed to invest 50% additional amount over and above what was planned earlier and it will create more employment opportunities,” Gaurav Gupta, principal secretary, commerce and industrie ..
Wistron declined to comment.
The promise of stepping up the investment outlay and additional jobs has brought cheer to the government at a time when Covid-19 has impacted the state financially.
In 2018, Wistron had proposed to establish a unit to manufacture smartphones, IoT products and biotech devices at Narasapur in Kolar district with an investment of Rs 682 crore employing 6,000 people. The proposal had received the government’s nod along with a slew of incentives and concessions. The state had allocated 43 acres of land for the project. A year later, the manufacturer made a revised plan increasing its investments to Rs 1,947 crore from its earlier target of Rs 682 crore. Besides ..