Foxconn expands iPhone production in India by $1.5bn
While Donald Trump is urging Apple to bring manufacturing back to the US, Foxconn, the largest iPhone assembler, is investing $1.5bn to expand its facilities in India. It's part of a strategy to reduce dependence on China and minimise risks from duties and geopolitics.
Here's What We Know
The investment is in Foxconn's subsidiary Yuzhan Technology India, based in the state of Tamil Nadu. The funds will come from Foxconn's Singapore unit, which will acquire 12.77 billion shares at Rs 10 each. This will increase production capacity and start shipping iPhones in the coming months.
In March 2025, about 600 tonnes of iPhones worth $2 billion were exported from India to the U.S. According to Reuters, India's iPhone exports in the 2024-2025 fiscal year were worth $17.5 billion, almost double from a year earlier.
Apart from Foxconn, Tata Electronics and Pegatron are active in India. Tata recently completed the acquisition of Wistron's Indian unit, which will allow it to assemble iPhones alongside Foxconn and Pegatron.
Apple plans to move the bulk of iPhone production for the US market to India by 2026 to avoid high duties on Chinese goods. In March 2025, $2bn worth of iPhones were shipped from India to the US, signalling a significant increase in production in the country.
Foxconn also plans to double its workforce in India, which already exceeds 40,000. The company is actively training local workers, bringing in Chinese engineers to transfer expertise.
Source: Reuters
