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Foxconn Investing $500 Million in India Manufacturing Plants
Foxconn is continuing to diversify its manufacturing footprint with plans to invest $500 million building plants in India’s Telangana region.
Apple and its suppliers, including Foxconn, have been working to reduce dependence on China amid deteriorating relations and trade wars between China and the West. As part of that effort, Foxconn has been heavily investing in manufacturing plants in India.
According to a tweet by the Minister for Municipal Admin & Urban Dev, Industry & Commerce, ITE&C, Foxconn has broken ground on its first plant in the state of Telangana.
India has increasingly grown in importance for Apple as the company looks to emerging markets to continue driving growth. The company recently opened its first Apple Store in Mumbai, and Apple has been snapping up additional office space. Meanwhile, the company has begun assembling its latest iPhones in-country.
Foxconn Investing $500 Million in India Manufacturing Plants
Matt Milano
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