Bloomberg: iPhone maker Foxconn aims to double investments, jobs in India
2023-09-18
According to Bloomberg, Apple Inc. partner Foxconn Technology Group plans to double its investment and employment in India, highlighting a rapid shift in manufacturing away from China as Washington-Beijing tensions escalate.
Foxconn representative in India Wei Li said in a LinkedIn post on Sunday that the Taiwanese company plans to double the size of its business in the South Asian country, while also wishing Prime Minister Narendra Modi on his birthday. He did not give details.
“Aiming to double employment, FDI and trade size in India, we will work even harder to give you a big birthday gift next year,” Lee said.
Bloomberg News had earlier reported that the investment plans of the Taiwanese company, also known for its flagship unit Hon Hai Precision Industry Co, include a 300-acre site near the airport in Karnataka’s capital Bengaluru. That plant is expected to assemble iPhones and is expected to create about 100,000 jobs.