Foxconn Plans 300-Acre Manufacturing Facility in Uttar Pradesh Near Yamuna Expressway

iPhone-Maker Foxconn Seeks 300-Acre Land in Uttar Pradesh for Major Manufacturing Facility

In a significant development for India's manufacturing sector, Apple's leading supplier Foxconn is reportedly looking to acquire up to 300 acres of land near the Yamuna Expressway in Greater Noida, Uttar Pradesh. This move signals a major expansion of electronics manufacturing in North India and could potentially transform the region into a key hub in global tech supply chains.

Strategic Expansion in North India

According to reports published on April 14, 2025, the Taiwanese manufacturing giant is eyeing a substantial land parcel that would host what could become Foxconn's first manufacturing facility in North India. Industry analysts suggest this planned facility might even surpass the size of the company's upcoming Bengaluru plant, which is already positioned to become Foxconn's second-largest manufacturing hub globally.

The strategic location near the Yamuna Expressway provides several advantages, including excellent connectivity to major markets and logistics networks. The facility's proximity to the national capital region also offers access to a large talent pool and established business infrastructure.

Diversifying Global Supply Chains

This expansion comes at a critical time when both Foxconn and Apple are actively working to diversify their supply chains beyond China. The move appears to be partially motivated by the need to mitigate risks associated with tariffs imposed on Chinese exports and to build manufacturing resilience through geographical diversification.

While specific details about the planned production capabilities have not been disclosed, sources indicate that discussions with the Uttar Pradesh government are currently ongoing. The exact product lines to be manufactured at this facility remain undetermined at this stage.

Strategic Location Near Semiconductor Project

Interestingly, the likely location of this land parcel is reportedly in close proximity to the planned HCL-Foxconn 50-acre semiconductor assembly facility. This spatial alignment suggests potential synergies between the two operations and hints at Foxconn's comprehensive approach to building an integrated manufacturing ecosystem in the region.

The Uttar Pradesh government had previously allocated land near the upcoming Jewar airport for the HCL-Foxconn semiconductor plant, highlighting the state's commitment to developing a technology manufacturing corridor in this area.

Growing Semiconductor Ecosystem

This development occurs against the backdrop of India's push to establish itself as a global semiconductor manufacturing destination. In March 2025, reports indicated that the government was in the final stages of approving the next set of proposals for semiconductor projects under the first phase of the India Semiconductor Mission (ISM).

The potential Foxconn facility in Greater Noida would complement these broader national initiatives to build self-reliance in electronics manufacturing and potentially reduce India's dependence on imported components.

Economic Impact and Future Prospects

If realized, this investment would represent a significant economic boost for Uttar Pradesh, potentially creating thousands of jobs and spurring development of ancillary industries. The facility could also accelerate technology transfer and skill development in the region.

For consumers and the broader Indian tech ecosystem, local manufacturing could eventually translate to more competitively priced Apple products and faster access to new product releases.

While the project is still in the discussion phase, it reflects growing confidence in India's manufacturing capabilities and business environment among global technology leaders. The development also aligns with the Indian government's production-linked incentive (PLI) schemes designed to attract major electronics manufacturers.

As discussions progress between Foxconn and state authorities, industry observers will be watching closely for announcements regarding investment amounts, production timelines, and specific manufacturing focus areas for this potentially landmark facility in North India.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Mehul Choksi Arrested in Belgium: Key Accused in Rs 14,000 Crore PNB Fraud Case

Fugitive Businessman Mehul Choksi Arrested in Belgium in PNB Bank Loan Fraud Case

In a significant development in the long-running Punjab National Bank (PNB) fraud case, fugitive diamond merchant Mehul Choksi has been arrested by Belgian authorities following an extradition request from India. The arrest, which occurred on Saturday, marks a crucial breakthrough in one of India's most high-profile financial fraud investigations.

Arrest Details and Background

Choksi, a key accused in the Rs 14,000-crore PNB fraud case, was apprehended based on two non-bailable warrants issued by a Mumbai court, dated May 23, 2018, and June 15, 2021. The 65-year-old fugitive diamond trader has been evading Indian authorities since January 2018, when he fled the country just before the massive banking fraud came to light.

According to investigative agencies, Choksi, his company Gitanjali Gems, and other associates allegedly colluded with bank officials to fraudulently obtain Letters of Undertaking (LoUs) and enhance Foreign Letters of Credit (FLCs) without following proper procedures. These actions reportedly caused substantial financial losses to Punjab National Bank, one of India's largest public sector banks.

Expected Legal Challenges

Following his arrest, Choksi's legal team is reportedly preparing to mount a defense against extradition efforts. His lawyers are expected to seek bail and challenge India's extradition request on various grounds, with his medical condition being cited as a primary factor. The 65-year-old businessman had reportedly traveled to Belgium to receive cancer treatment.

Extradition proceedings could be complex and protracted, according to experts familiar with international legal procedures. The PNB scam whistleblower Hariprasad SV commented on the development: "It's really great news. We are very glad for all those people who were cheated by Mehul Choksi in India. It's unbelievable how he got caught in Belgium."

However, Hariprasad also cautioned about the challenges ahead: "Extradition is not going to be an easy task. His wallet is full, and he will employ the best advocates in Europe, as Vijay Mallya has been doing. It is not easy for India to get him back... Even though he was caught in Antigua, he managed to get out of it as he had a fleet of lawyers."

Choksi's Journey as a Fugitive

Choksi's flight from justice has been marked by several notable developments:

• January 2, 2018: Choksi left India, initially traveling to the United States
• 2017: Prior to fleeing, he had acquired Antiguan citizenship
• 2021: Choksi was arrested in Dominica under controversial circumstances
• His legal team claimed he was kidnapped from Antigua, while authorities alleged he was attempting to flee to Cuba
• Despite India's extradition efforts, Dominica deported him back to Antigua
• Recently: Choksi traveled to Belgium, reportedly for cancer treatment, where he has now been detained

The PNB Fraud Case

The case against Choksi relates to one of India's largest banking frauds. Along with his nephew Nirav Modi (who is currently in a UK prison fighting his own extradition case), Choksi is accused of defrauding Punjab National Bank of nearly Rs 14,000 crore.

The alleged fraud involved the issuance of fraudulent Letters of Undertaking (LoUs) - essentially bank guarantees that were used to secure loans from overseas branches of Indian banks. These financial instruments were allegedly issued without proper authorization or documentation, bypassing the bank's core banking system.

The fraud remained undetected for years as the accused reportedly colluded with certain bank employees. When the scheme finally came to light in early 2018, both Choksi and Modi had already fled the country, triggering a global manhunt that has now resulted in Choksi's arrest in Belgium.

Implications and Next Steps

The arrest represents a significant step in India's efforts to bring the accused to justice in the PNB fraud case. If successfully extradited, Choksi would face multiple charges under Indian law, including fraud, criminal conspiracy, and money laundering.

However, as noted by observers, securing his actual return to India could still prove challenging due to the complex nature of international extradition proceedings and the substantial legal resources at his disposal. The process could potentially involve multiple legal challenges and appeals before reaching a conclusion.

Financial market analysts will be closely watching how this development affects ongoing efforts to recover the defrauded funds and strengthen banking oversight mechanisms to prevent similar frauds in the future.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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