CosmicTaco

Foxconn Secures Major Incentives in Karnataka Budget

CosmicTaco · 2025-03-10T10:30:29.205311+05:30

- Karnataka CM Siddaramaiah announced a INR 6,970 Cr incentive for Foxconn under the ESDM policy. - The incentive marks Foxconn as the first electronics company to receive such a significant amount from the state government. - Foxconn plans to invest INR 21,911 Cr in a new smartphone manufacturing plant in Karnataka's Devanahalli Industrial Area. - The government also announced a INR 300 Cr fund-of-funds and an additional INR 100 Cr corpus for deeptech startups. - The investments are part of the Local Economy Accelerator Programme, aiming to create 5 Lakh jobs in Tier II & III cities across Karnataka. Source: [Inc42](https://inc42.com/buzz/foxconn-to-receive-inr-6970-cr-incentives-from-karnataka/)

Karnataka CM Siddaramaiah announced a INR 6,970 Cr incentive for Foxconn under the ESDM policy.
The incentive marks Foxconn as the first electronics company to receive such a significant amount from the state government.
Foxconn plans to invest INR 21,911 Cr in a new smartphone manufacturing plant in Karnataka's Devanahalli Industrial Area.
The government also announced a INR 300 Cr fund-of-funds and an additional INR 100 Cr corpus for deeptech startups.
The investments are part of the Local Economy Accelerator Programme, aiming to create 5 Lakh jobs in Tier II & III cities across Karnataka.

Source: Inc42