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Foxconn commits $1.5 billion to boost India operations amid Apple’s China shift
The investment was disclosed in a regulatory filing with the Taiwan stock exchange on Monday.
Foxconn’s announcement comes amid Apple’s broader strategy to reduce its reliance on Chinese manufacturing.
The Taiwanese electronics giant and key assembler of Apple’s iPhones, Foxconn is deepening its India play with a fresh $1.5 billion investment, as Apple accelerates efforts to diversify its supply chain away from China.
The investment was disclosed in a regulatory filing with the Taiwan stock exchange on Monday. According to the filing, Foxconn’s Singapore-based subsidiary acquired 12.7 billion shares in its Indian arm, Yuzhan Technology India, marking a significant capital infusion aimed at expanding local manufacturing capabilities.
Yuzhan Technology operates in the southern state of Tamil Nadu, producing smartphone components, according to Indian media reports. The company did not provide further details about the scale or purpose of the investment.
Foxconn’s announcement comes amid Apple’s broader strategy to reduce its reliance on Chinese manufacturing. The pivot is designed to manage geopolitical tensions and tariff risks, particularly in light of recent U.S. trade policies. Apple CEO Tim Cook recently stated that a growing number of iPhones sold in the U.S. would carry the label “Made in India.”
However, this strategy has sparked political tension back in the U.S., with former President Donald Trump claiming he had personally told Cook: “We’re not interested in you building in India... we want you to build here.”
Meanwhile, Foxconn is simultaneously widening its footprint in India’s semiconductor space. Last week, the Indian government approved a ₹3,700 crore ($432 million) investment plan by Foxconn and HCL Group to build a semiconductor plant in northern India. The facility will produce display driver chips, crucial components for devices ranging from smartphones and laptops to automobiles.
The plant is expected to handle up to 20,000 semiconductor wafers per month, with a design capacity of 36 million chips monthly, according to a government release.
India has aggressively courted global electronics and chip manufacturers with billions in subsidies, hoping to become a credible alternative to China’s dominance in electronics manufacturing and semiconductor production.
Foxconn’s investment signals growing confidence in India’s manufacturing ecosystem and its strategic role in Apple’s long-term global supply chain strategy.
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