Foxconn to set up an iPhone manufacturing facility in India

Foxconn has been in talks with the Indian government over an iPhone manufacturing facility in the country. According to Economic Times, the Chinese manufacturer is close to inking a deal over a 1,200-acre area of land in the state of Maharashtra, with the project estimated to cost $10 billion.

The publication states that once the deal has been finalized, it will take Foxconn 18 months to get the factory operational. Assembling devices locally in the country will be a huge boost for Apple as the company looks to expand its presence in the market. The vendor has been exempted from the country's sourcing norms, bringing Apple one step closer to launching its own retail stores.

India has the potential to be the next growth driver for Apple, with the company seeing a 56% increase in sales in Q1 2016.

Harish Jonnalagadda

The clumsiest man in tech.