Good news! iphones may soon come with a 'Made in India' tag

Good news! iphones may soon come with a 'Made in India' tag

Zee Media Bureau

New Delhi: The iPhone contract manufacturer Foxconn Technology Group​ is giving finishing touches to its plan of manufacturing iPhone in India for sale for Indian as well as the export market.

Foxconn is a multinational electronics contract manufacturing company headquartered in New Taipei, Taiwan. It is already manufacturing electronic gadgets for Sony, Xiaomi, Gionee and Microsoft and Reliance Jio in India.

As per The Economic Times, Foxconn is close to signing a deal with the Indian government to open a $10-billion facility for manufacturing iPhones in the country.

It has already shortlisted Talegaon-Chakan and Khalapur as likely locations. The company is said to be looking for a 1,200 acre of land for the facility. 

Setting up iPhone manufacturing base in India will give a definitive push to Apple's iPhone sales in the country, which sees huge market potential in India. Apple's iPhone sales were up 76 percent in India for the first quarter in 2016.