The project is expected to add 50,000 jobs, according to the government.
The new plant that will come up on a 300-acre plot near the Bengaluru international airport will be Foxconn’s largest such unit in India and is expected to add about 100,000 jobs over the next 10 years.
The committee’s clearance follows a MoU between the state government and Foxconn during the visit of a high-level delegation led by its chairman Young Liu to Bengaluru. At the time of signing of the MoU, details about neither the investment figure nor the number of potential jobs the proposed unit will add were available.
Foxconn’s increased India push is triggered by strong domestic demand for iPhones as well as a surge in exports from India led by the diversification of global supply chains away from China. The company already manufactures iPhones in India. It has facilities in Tamil Nadu, Andhra Pradesh and Telangana.
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The high-level committee, in all, cleared 10 new, five expansion and three additional investment proposals all totalling about Rs 75,394 crore. All these proposals together are expected to add 77,606 jobs, according to the state government.
Gurugram-based Amplus Active has proposed a 100 KTPA hydrogen and 500 KTPA green ammonia plant besides solar and wind energy projects at Mangaluru and other districts, at an investment of Rs 34,020 crore. Mumbai-based Epsilon C2GR has planned to build a LIB Anode Material plant worth Rs 8350 crore at Doddaballapura, while UltraTech will invest Rs 2670 crore in a cement unit at Chittapur.
Tata Advanced Systems has proposed Rs 1030 crore in defence and aviation units on the outskirts of Bengaluru and Ather Energy will invest Rs 504 crore in an EV two wheeler unit in Bengaluru rural district
The Chief Minister said, “We are happy that the state has received such a huge investment. In this regard, the proposals for green hydrogen, ethanol production, wind energy power plant, electrical and electronic items assembling, lithium batteries and electric vehicles, and cement and steel companies in the state have been approved in the meeting. Karnataka’s contribution to the manufacturing sector will be remarkable in the country “
Industries Miniy Murugesh R. Nirani said Karnataka was at the forefront of the renewable energy, ethanol production, and manufacturing sector. “In order to encourage green hydrogen production, ethanol production, aerospace, and renewable energy, ESDM, we have approved proposals from Amplus Active Private Limited, Ayana Renewable Power Six Private Limited,TATA Advanced Systems Limited.”
