BENGALURU (Reuters) -Taiwan’s Wistron Corp has signed a non-binding agreement to invest 15 billion rupees ($180.7 million) in setting up a laptop manufacturing unit in the Indian state of Karnataka, the local government said on Wednesday.
The proposed plant is expected to create around 3,000 jobs and also produce electric vehicle-related parts, a statement from the government said.
Wistron plans to start manufacturing laptops at the plant from January 2026 and export more than half of the laptops made at the unit.
The deal comes months after Wistron approved sale of its unit that made Apple iPhones in the country to salt-to-software conglomerate Tata Group in an estimated $125 million deal.
In November 2023, India granted incentives to companies like Dell, HP and Foxconn to make IT hardware locally as part of its bid to become a powerhouse in the global electronics supply chain.
The south Indian state of Karnataka is being seen as a lucrative ground to set up manufacturing facilities as companies such as Foxconn look for ways to diversify away from China following COVID-19 disruptions and geopolitical tensions.
($1 = 82.9930 Indian rupees)
(Reporting by Haripriya Suresh in Bengaluru; Writing by Hritam Mukherjee; Editing by Shailesh Kuber)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.