Apple, Suppliers Embark On Groundbreaking Housing Initiative For Employees In India

This story was first published on the Benzinga India portal.

In an unprecedented move in India's private sector, Apple Inc. AAPL and its suppliers, including Foxconn, Tata Group, and Salcomp, are planning to build employee residential facilities, according to an ET report. This initiative echoes industrial housing models prevalent in China and Vietnam.

The project aims to construct over 78,000 housing units under a public-private partnership. Tamil Nadu, a state in southern India, will receive the major portion with around 58,000 units lined up.

Funding for the project will be a joint venture. The central government of India plans to finance 10-15% of the total cost, with the rest being covered by state governments and private players. The goal is to conclude the project by March 2025.

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The State Industries Promotion Corporation of Tamil Nadu (SIPCOT), Tata Group, and SPR India are driving this initiative. This project is a significant step towards improving worker efficiency and security, focusing particularly on the young female workforce predominant in this industry.

The initiative also aims to enhance the living standards of the employees, many of whom are migrants coping with extended commutes and housing difficulties.

Foxconn, Apple's principal iPhone supplier in India, plans to allocate nearly 35,000 of these units for its workforce, 75% of which are women.

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