Apple supplier Salcomp to invest Rs 2,000 crore in new Indian plant
Updated : November 26, 2019 07:32 AM IST
Finland's Salcomp, a supplier to US tech group Apple, is to invest Rs 2,000 crore ($278.67 million) in India to make mobile chargers and other smartphone components from March 2020.
Salcomp has reached an agreement to take over a facility, formerly owned by Nokia, in Chennai and will begin operations at the site by March, Ravi Shankar Prasad told a news conference.
India has been trying to take advantage of the trade war between Beijing and Washington, which has disrupted supply chains and forced companies to look for alternative manufacturing locations.
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