Foxconn, the world’s largest iPhone contract manufacturer, is bolstering its presence in India by investing an additional $1.6 billion to set up a new facility. The plans were revealed through a regulatory filing by the company’s Singapore subsidiary.
The fresh injection comes as Foxconn and other Taiwanese manufacturers actively explore diversification beyond China amid escalating US-China tensions. With strong policy support, India is emerging as a preferred destination for tech supply chains in the Indo-Pacific region.
Earlier in September, Foxconn outlined intentions to double its workforce and investment in India over the next year, underscoring the country’s tremendous potential. Chairman Liu Young-way believes the recent billion-dollar infusion marks just the beginning.
In August, Foxconn revealed a $600 million investment in the Indian state of Karnataka alone, covering an iPhone enclosures plant and semiconductor equipment facility with Applied Materials. This consolidates Foxconn’s growing Foothold as a major Apple supplier and displays ecosystem stakeholders in India.
Foxconn already produces various iPhone models with nearly 50% of its overall revenues coming from Apple partnerships. But geopolitics, lucrative incentives, and India’s skilled talent pool are now seeing companies shift more strategic capacities outside China.
With India setting its sights on surpassing Vietnam to become Apple’s second-largest manufacturing hub, the stars are aligning for Foxconn. Its chairman explained how the demographic dividend, stable politics, and easing business environment convinced Foxconn to bet big on India.
As more global giants echo this view, deepening India-Taiwan ties also bode well for tech investments. With Foxconn raising the stakes, the next few years may witness an inflection point for India’s technology manufacturing and export prowess.
