Foxconn Fortifies Footprint in India with $1.5 Billion Investment
Apple’s Taiwanese supplier, tech giant Foxconn, is set to invest $1.5 billion in its Indian unit, according to a Reuters report.
In a regulatory filing on Monday, Foxconn announced that it would acquire 12.77 billion shares in its Singapore-based subsidiary, Hon Hai Technology India Mega Development, at a face value of 10 Indian rupees each.
The unit, located in Tamil Nadu, India, manufactures and assembles various electronic components, including Apple’s iPhones.
This move comes as Apple continues to diversify its production base away from China, a strategy influenced by U.S. tariffs implemented during the Trump administration. In March, Apple exported nearly 600 tonnes of iPhones from India, with an estimated value of $2 billion.
