Karnataka government has announced that Foxconn, a subsidiary of Hon Hai Precision Industry Co Limited, will receive an incentive of Rs 69.70 billion under the state’s Electronics System Design and Manufacturing (ESDM) policy.
Foxconn has invested Rs 219.11 billion in a mobile phone manufacturing plant in Devanahalli Industrial Area, with an additional incentive of Rs 69.70 billion under the ESDM policy.
In addition, Foxconn is the first to receive a substantial incentive in Karnataka, aiming to enhance its presence in high-end electronics manufacturing.
