Tata Sons plan to secure an overseas investment of $1 billion to set up a manufacturing plant in Tamil Nadu for production of iPhone parts. This is being done to attract mobile makers like Apple to setup alternative production sites in India as the world wants to diversify out of China. The partnership will also give boost to Indian government “Make In India” initiative. The details of the project is kept under lock but Tata plans to secure funding by January 2021 and set up shop by the third quarter.
Tata Sons to invest $1 billion in a manufacturing plant
