Singapore: Foxconn, a major supplier for Apple, has announced a substantial ₹127.74 billion ($1.5 billion) investment in its Indian subsidiary, as part of Apple’s broader strategy to diversify its manufacturing footprint away from China.
According to a filing with the London Stock Exchange, the investment will be made through Foxconn’s Singapore-based arm, which will purchase approximately 12.77 billion shares of Yuzhan Technology India at ₹10 each. The move signals Foxconn’s deepening commitment to India as a long-term manufacturing hub.
Yuzhan Technology India, located in the southern state of Tamil Nadu, plays a key role in Apple’s supply chain by producing electronic components and assembling iPhones. The facility has become increasingly central to Apple’s efforts to reduce its dependency on China, especially amid ongoing trade tensions and U.S. tariffs.
Apple began significantly boosting its India operations in early 2023. In March alone, the company exported nearly 600 tons of iPhones to the United States, valued at around $2 billion, according to a previous report by Reuters. This aggressive production and export push underlines Apple’s confidence in India’s potential as a reliable and scalable alternative.
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Apple’s shift is largely driven by uncertainty surrounding U.S.-China relations and the impact of tariffs introduced under former President Donald Trump. These trade policies have threatened to raise the cost of iPhones and disrupt global supply chains, prompting the tech giant to spread its manufacturing operations across more stable regions.
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Foxconn’s latest move not only reinforces its position as Apple’s key assembler but also aligns with India’s ambition to become a global electronics manufacturing hub under the government’s “Make in India” initiative.
