Foxconn plans to invest $1.54 billion in India, the latest in its growing expansion plan, following a surge in revenues in the South Asian market.
Foxconn said in a stock exchange filing that the investment will help it fulfil “operational needs.” The investment comes two months after the Taiwanese firm said it plans to double its workforce and investment in India by next year.
Foxconn works with many firms including Apple and assembles their devices in plants in India as many tech giants look to shift part of their manufacturing base to India in a move that analysts describe as “China+1.”
The investment from Foxconn, which is the largest EMS provider globally, into China climbed in 2001-2017 or over 15 years, and has slowed down since 2018, given the US-China trade tension.
The company, which operates three manufacturing campuses in India, pulled…
