Taiwan’s Foxconn, the world’s largest contract manufacturer of electronics and a major Apple supplier, has been expanding its presence in India by investing in manufacturing facilities in the southern states. They currently operate an iPhone factory in Tamil Nadu, employing 40,000 people.
V Lee, Foxconn’s representative in India, announced plans to double the company’s investment and workforce in India over the next year. This expansion aligns with Foxconn’s strategy to diversify its manufacturing away from China.
In August, the Karnataka government revealed that Foxconn intended to invest $600 million in two projects in the state, focused on producing casing components for iPhones and chip-making equipment.
Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn), emphasized the importance of India in the future of manufacturing. While building a supply chain ecosystem in China took 30 years, Liu anticipates that the process will be shorter in India due to the country’s experience and advancements in technologies like AI and generative AI.
In related news, Apple Inc. plans to make India-assembled iPhone 15 models available in the country and other regions on the global launch day, a departure from the usual practice where new iPhones debut in China. While the majority of iPhone 15 units will still come from China, this move marks a significant step in India’s role as a manufacturing hub for Apple products.
