- Tuesday, May 20, 2025
The Taiwanese tech giant’s move comes just weeks after Apple CEO Tim Cook said he expected a majority of iPhones sold in the United States would have “India as their country of origin”
By: India Weekly
THOUGH US president Donald Trump wants Apple to shift its manufacturing base to the US, key iPhone maker Foxconn is making a $1.5 billion investment push in India.
The Taiwanese tech giant is making this move to focus on India as Apple looks to mitigate geopolitical and tariff risks by shifting production away from China.
Foxconn said its Singapore-based subsidiary had picked up 12.7 billion shares in its India unit, resulting in an injection of about $1.5 billion.
The India unit, known as Yuzhan Technology India, makes components for smartphones in Tamil Nadu state.
No other details regarding the investment were offered in a filing with the Taiwan stock exchange on Monday.
India has sought to position itself as an alternative manufacturing base to China.
New Delhi’s attempts to offer billions in subsidies to incentivize domestic manufacturing have resulted in a boom in local electronics production.
Foxconn’s move comes just weeks after Apple CEO Tim Cook said he expected a majority of iPhones sold in the United State would have “India as their country of origin”.
The slow shift from China to India, experts say, will allow the consumer electronics giant to offset the tariff and geopolitical risk that come with US president Donald Trump’s aggressive trade push.
Apple’s decision to double down on India also drew the ire of Trump who last week said he told Cook: “We’re not interested in you building in India… we want you to build here”.
Foxconn has also looked to more broadly expand its manufacturing operations in India.
Last week, the Indian government granted approval to the Taiwanese firm to build a semiconductor plant in northern India as part of a joint venture with the HCL Group.
The project, a government press release said, would attract an investment of $432 million from the HCL-Foxconn joint venture.
When finished, the plant will churn out display driver chips – key components for smartphones, laptops and automobiles among other devices.
The facility is designed for “20,000 wafers” or slices of semiconductor material per month, with a design output capacity of “36 million units per month”.
New Delhi has offered generous financial support for companies willing to make chips in the country, as it looks to secure its own supply and quell national security concerns.
