Foxconn will invest 1.5 billion rupees in its India unit, the company said in a filing, as Apple continues shifting its manufacturing base out of China.
The move comes amid ongoing trade tensions and tariffs imposed by the United States.
According to a filing on the London Stock Exchange, Foxconn’s Singapore-based subsidiary will acquire 12.77 billion shares at 10 rupees each, totalling 127.74 billion rupees ($1.50 billion), in Yuzhan Technology India.
Yuzhan Technology India, located in Tamil Nadu, produces electronic components and assembles Apple iPhones. The investment reflects Apple’s broader strategy to strengthen its manufacturing presence in India as an alternative to China, where U.S. tariffs have disrupted global supply chains and raised concerns about rising iPhone prices.
Apple significantly increased its production in India earlier this year, shipping about 600 tons of iPhones worth $2 billion to the United States in March.
