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Apple supplier: Foxconn wants to double investments in India

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Apple suppliers
Foxconn wants to double investments in India

Employees at a Foxconn factory. photo

© Xuan Hui/FEATURECHINA/dpa

Apple wants to diversify its supply chains in view of geopolitical tensions with China. Supplier Foxconn plans to significantly expand its business in India.

The important Taiwanese Apple supplier Foxconn wants to significantly expand its business in India. On the occasion of Indian Prime Minister Narendra Modi’s 73rd birthday over the weekend, Foxconn’s representative in India, Vincent Lee, wrote on LinkedIn: “We will work even harder to present you with an even bigger birthday gift next year by intending to to once again double jobs, direct investment and business size in India.” Lee did not give any details.

Foxconn and other Apple suppliers have manufacturing facilities in India, where there are government incentives for smartphone production. Most Apple products are produced in China. But recently there have been repeated reports that Apple wants to increasingly diversify its supply chains in view of geopolitical tensions with China – the focus is on India and Vietnam. The idea of diversifying supply chains is also related to the Russian war of aggression in Ukraine and the corona pandemic, as these events revealed major dependencies.

Foxconn plans to invest an additional 50 billion rupees (563 million euros) in facilities for the production of components for iPhones and semiconductors in the Indian state of Karnataka, the industry minister there, Mallanagouda Basanagouda Patil, recently announced on the platform X, which was formerly called Twitter.