The government of the Indian state of Tamil Nadu has announced investment agreements with international technology companies, including $1.5 billion earmarked for iPhone production. Following its $125 million acquisition of Wistron's iPhone factory in 2023, India's Tata Electronics has agreed to invest $1.4 billion to establish a so-called mobile phone assembly business. Wistron's former factory is in Karnataka, while the new deal is with neighboring Tamil Nadu.
Meanwhile, iPhone assembler Pegatron has also pledged to invest $120 million in expansion in the region.
Announcing the news at an event on January 7, 2024, the Tamil Nadu government said total investments in the region in smartphones, electric vehicles and energy generation will exceed $4 billion.
"What is happening today under the leadership of the honorable chief minister is the result of this... model of governance," said Tamil Nadu Industries Minister TR B Rajaa. "More than the amount of investment, I personally and the honorable chief minister personally, [we] are very happy because all these investments are coming into Tamil Nadu and creating amazing employment opportunities for the youth of Tamil Nadu."
He continued: "Growth is being distributed across Tamil Nadu, that is the key word here, distributed growth. This is the most investor-friendly government and we are very focused on diversity, equity, sustainability and inclusion."
The minister also said that there will be more investment news soon. It's unclear if this is related to any Apple suppliers.