Apple’s New Orchard: Foxconn’s $1.5 Billion Investment Bears Fruit in India

In a major move underscoring Apple’s global manufacturing pivot, Hon Hai Precision Industry—better known as Foxconn and Apple’s main iPhone assembler—has injected $1.5 billion into its India unit. The investment, channeled through Hon Hai’s Singapore-based subsidiary, is set to accelerate the expansion of new plants and boost production capacity in southern India.

This capital investment is a major stride in Apple's plan to cut back on its dependence on Chinese manufacturing. Apple wants India to be the source of nearly all the iPhones distributed in the US by this time next year, a goal that is announced in the backdrop of increasing trade tensions and the threat of tariffs between the US and China. The. step has attracted criticism. from US. President. Donald. Trump, who recently implored. Apple. CEO. Tim. Cook. to. suspend. new. plant. development. in. India. and. turn. attention. to. domestic. manufacturing. instead.

Despite such political headwinds, Apple's India operations are booming. In the 12 months ended March, the company manufactured $22 billion worth of iPhones in India, a 60 percent increase from the year before. The Tata Group and Pegatron have also increased their positions as vital suppliers, solidifying India's role as a central nerve in Apple's global supply network.

Sources: The Economic Times, Business Standard, Bloomberg

 

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