Foxconn, Apple’s iPhone manufacturer, to double investment and jobs in India
In an attempt to diversify its operations away from China, Foxconn has lately increased its presence in India significantly by investing in manufacturing facilities in the southern region of the country.
Apple manufacturer Foxconn, which is also the largest global contract manufacturer of electronics is set to expand its presence in India. According to V Lee, a Foxconn representative based in India, the Taiwanese company intends to expand its business in the South Asian country by doubling its investment and employment in the country. This announcement was made in a LinkedIn post congratulating the Indian Prime Minister on his 73rd birthday.
In an attempt to diversify its operations away from China, Foxconn has lately increased its presence in India significantly by investing in manufacturing facilities in the southern region of the country. In a recent announcement, the state of Karnataka revealed that Foxconn plans to invest around $500 million in two projects.
Why does it matter?
Foxconn’s expansion in India highlights the potential risk of China losing its position as the leading global producer of consumer electronics. This is consistent with the larger trends of companies urging their suppliers based in China to consider alternative manufacturing locations like India and Vietnam. This shift in the global supply chain, driven by the tensions between Washington and Beijing and accelerated by the pandemic and war in Ukraine, has the potential to reshape the manufacturing landscape of global electronics.
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