- Foxconn reveals plans to invest Rs 1,200 crore in constructing a new factory in India, reaffirming its commitment to expanding operations in the country.
- The Taiwanese company, known as the largest iPhone-maker in India, aims to meet its operational needs through this significant investment, as stated in a regulatory filing.
- This move follows previous reports indicating Foxconn’s intention to invest over $1.5 billion in India, highlighting the company’s ongoing efforts to bolster its presence and operations in the country.
Foxconn, the leading iPhone manufacturer in India, has announced a substantial investment of Rs 1,200 crore in building a new factory in the country. This decision, disclosed through a regulatory filing, underscores Foxconn’s dedication to enhancing its operational infrastructure to sustain its burgeoning business in India.
Last year, Foxconn hinted at its plans to allocate more than $1.5 billion for a construction project in India, aimed at fulfilling its operational requirements. This investment, facilitated by Hon Hai Technology India Mega Development, further solidifies Foxconn’s position as a key player in the Indian manufacturing landscape. Notably, the company has been actively expanding its footprint in India, as evidenced by its recent collaboration with HCL Group to establish a facility for chip packaging and testing, signaling its strategic focus on leveraging India’s potential as a manufacturing hub.
