iPhone maker Foxconn to invest Rs. 18,935 crore (US$ 2.20 billion) in India, United States as it shifts from China

Apple’s primary iPhone assembler, Taiwan-based Hon Hai Precision Industry Co., also known as Foxconn, has received regulatory approval for two major investment proposals totalling over Rs. 18,935 crore (US$ 2.20 billion), with a massive portion earmarked for India. According to Taiwan’s Ministry of Economic Affairs, Foxconn will invest Rs. 12,824 crore (US$ 1.49 billion) through its Singapore subsidiary into Yuzhan Technology (India) Pvt Ltd to expand operations in India, reinforcing the country's role as a key iPhone production hub. Separately, the company will invest Rs. 3,228 crore (US$ 375 million) to establish a new United States (US) based entity focused on server assembly and data centre module protection.
The developments come amid deepening trade tensions between the US and China, prompting Foxconn to accelerate its diversification strategy beyond China. India, with its growing electronics manufacturing base and favourable production-linked incentives (PLI), is emerging as a prime location. Shipments of iPhones from India to the US surged in early 2025, with Foxconn exporting 97% of units produced locally, up from 50% in 2024, valued at Rs. 27,542 crore (US$ 3.2 billion) between March and May 2025. Despite political pressure from the President of the United States of America, Mr. Donald Trump, to shift manufacturing back to America, Foxconn confirmed its commitment to expanding a new component facility near Chennai with a Rs. 12,911 crore (US$ 1.5 billion) investment. Globally, Foxconn operates 223 factories and offices across 24 countries, including 12 each in India and Europe.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.