Foxconn (Apple’s Supplier) Increases Investments in India

This planned investment includes $500 million for the two factories and another $700 million for a facility near Bengaluru's airport, possibly for iPhone assembly, potentially offering 100,000 jobs. This extensive investment emphasizes India's growing appeal as a manufacturing hub, particularly with the ongoing U.S.-China tensions and the recent disruptions in global supply chains due to the pandemic and geopolitical events.

Over the years, Apple suppliers like Foxconn have increasingly turned to India, aided by local manufacturing incentives offered by the Indian government. Foxconn and another firm, Pegatron, have already set up iPhone production facilities in Tamil Nadu. Moreover, Foxconn has inked a preliminary deal with the Tamil Nadu government for another component factory, representing a $195 million investment and 6,000 jobs.

These developments indicate a rapid pivot from China, beneficial for India's tech aspirations, especially as global businesses reconsider their dependence on China due to regulatory challenges, economic deceleration, and U.S. trade constraints. Notably, Apple has been re-evaluating its supply chain following disruptions in their primary Chinese assembly plant.