Taiwanese electronics giant Foxconn (Hon Hai Precision Industry Co) has received approval from Taiwan’s Ministry of Economic Affairs to invest over $2.2 billion across India and the United States, according to a report by Focus Taiwan.
A significant portion of this investment—$1.49 billion—will be funneled through Foxconn’s Singapore-based subsidiary into Yuzhan Technology (India) Private Limited, a Foxconn-owned entity. The capital is expected to be used to establish a new manufacturing facility in India focused on producing smartphone components, the report stated.
The investment aligns with Foxconn’s broader strategy to scale up iPhone manufacturing in India, with the company reportedly targeting 25–30 million units in the current calendar year.
Foxconn first entered India in 2005 and claims to have invested around $10 billion in the country up until last year. In a significant move earlier this year, the company infused $1.48 billion by purchasing 9,999 shares in its India entity at INR 10 per share, including a premium component.
To support its expansion, Foxconn is actively acquiring land and building new facilities. The company is investing INR 25,000 crore to develop a large manufacturing plant near Bengaluru airport, which will have a production capacity of 20 million smartphones. Additionally, a new unit is being built in Tamil Nadu to produce iPhone enclosures.
This aggressive push into India comes amid efforts to diversify manufacturing operations, as global supply chains face increasing pressure from US-China trade tensions. Earlier this year, the US imposed 145% import tariffs on Chinese goods, prompting China to retaliate with 125% tariffs. While both countries later reduced their respective tariffs, Foxconn continues to de-risk its operations by expanding outside China.
Foxconn is also deepening its footprint in India’s semiconductor ecosystem. In March, its joint venture with HCL Group secured land in the YEIDA region (Delhi-NCR) for a semiconductor manufacturing unit, with plans to invest INR 424 crore. Additionally, the company is in discussions with the Tamil Nadu government to set up a 200-acre battery manufacturing facility.
These moves underscore Foxconn’s intent to transform India into a major hub for electronics manufacturing and component production, complementing its growing global ambitions.
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