Foxconn Boosts India Bet with $1.5 Billion Infusion
Chief supplier to Apple, Foxconn, is continuing to expand in India with another new investment amounting to $1.5 billion, indicating, against a backdrop of escalating tensions, Foxconn’s plans to raise its commitment to diversifying production away from China. The funds come through Foxconn’s Singapore-domiciled subsidiary, which has injected 12.7 billion shares of its Indian arm,…
Abdullah Ansari
Centre Has Approved the HCL-Foxconn Semiconductor Unit in UP
On Wednesday, the Indian Cabinet officially approved the establishment of a semiconductor unit in Uttar Pradesh. The HCL Group and Foxconn partnership will manufacture display driver chips for mobile phones, laptops, automobiles, PCs and other devices in this plant. The investment in this semiconductor plant is around Rs 3700 crore ($430 million) and is designed…
ABHYUDAYA MITTAL
India to Produce $40 Billion iPhone by FY26
Apple is rapidly shifting gears in its global manufacturing playbook — and India is racing to the front of the line. With projections estimating nearly $40 billion worth of iPhones to be manufactured in India by FY26, the tech giant is doubling down on the subcontinent. What’s even more striking? 80% of that output is…
Foxconn Eyes 300 Acres in Greater Noida for a New Facility
Apple’s top iPhone manufacturer in the world, Foxconn, entered India recently and is now exploring the possibility of setting up a new manufacturing facility in Greater Noida, Uttar Pradesh. According to the company, it is looking for a 300-acre plot alongside the Yamuna Expressway. Foxconn made its debut in India with a manufacturing facility in…
Apple to Boost India’s Manufacturing with ‘Made in India’ AirPods
Apple is doubling down on its commitment to the ‘Make in India’ initiative by gearing up to produce AirPods locally for export. This move makes AirPods the second product category—after iPhones—to benefit from India’s production-linked incentive (PLI) scheme. Launched in September 2014 by the Prime Minister, ‘Make in India’ is part of a broader vision…
Shipra Prajapati
Foxconn To Set Up A Massive Battery Plant In Tamil Nadu
India’s largest contract manufacturer company, Foxconn, is planning to establish the world’s second-largest Battery Energy Storage System (BESS) in Tamil Nadu. The Tamil Nadu government has offered 200 acres of land to the company for this massive project. The discussion for this project is in the final stage. Also, an official revealed that Tamil Nadu…
Yash Sharma
Foxconn Bets Big on India with Its New Display Assembly
Foxconn plans to invest $1 billion in Tamil Nadu to set up its new display assembly facility. However, the timeline is not fixed yet; according to the Economic Times, Foxconn wants its facility to be up and running “as soon as possible.” Someone mentioned to Economics Time, “Foxconn has picked up about 500,000 square feet…
Apple To Shift Half Of Supply Chain From China To India
Recently, Apple has been trying to distance itself from China for obvious reasons and is investing heavily in India. Moreover, the company wants to shift half of its supply chain from China to India over the next three years, significantly increasing the number of jobs it offers in India. As per reports by the Economic…
Israeli Semiconductor Company To Produce Chips In India
In an attempt to capitalise on the $10 billion dollar incentives offered by the Indian government, Israeli semiconductor manufacturing company Tower Semiconductors has pledged to invest around $8 billion in India to build a chip-manufacturing facility. Semiconductor manufacturing and assembly has been the key area of focus in business for the Modi government and for…
Top Business News Round-Up From Asia
The development of Asia has speed up in the last few years thanks to emerging technology and the integration of AI. Read our Asian news round-up and stay up-to-date with all the latest developments from Asia. Singapore To See Acceleration In Its Economic Growth The Mastercard Economic Institute or MEI, has released a report, and…
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