Apple supplier Foxconn (2317.TW) has announced plans to invest $1.5 billion in its Indian unit, signaling a major move as the iPhone maker accelerates efforts to shift its manufacturing base away from China. The investment comes amid growing concerns over tariffs and supply chain vulnerabilities.
According to a filing on the London Stock Exchange, Foxconn’s Singapore-based subsidiary will acquire 12.77 billion shares in Yuzhan Technology India, each priced at 10 rupees, amounting to a total investment of 127.74 billion rupees ($1.5 billion).
Yuzhan Technology India, based in the southern Indian state of Tamil Nadu, is involved in the production of electronic components and is also engaged in the assembly of Apple’s iPhones. The facility plays a crucial role in Apple’s manufacturing footprint in the region.
Apple has been steadily positioning India as a strategic alternative to China for its production needs, particularly in light of rising U.S. tariffs on Chinese exports and growing geopolitical tensions. Reflecting this shift, Apple expanded its operations in India in March, exporting approximately 600 tons of iPhones valued at $2 billion to the United States.
This latest investment marks a significant step in Apple and Foxconn’s ongoing realignment of their global manufacturing and supply chains.
