Foxconn to Increase Employment and Investment in India Over Next Year
Apple supplier Foxconn plans to double its workforce and investment in India by next year, a company executive said on Sunday.
Taiwan’s Foxconn, the world’s largest electronics contract manufacturer, has rapidly expanded its presence in India by investing in production facilities in the southern parts of the country as the company moves out of China.
V Lee, Foxconn’s representative in India, said in a LinkedIn post to mark Indian Prime Minister Narendra Modi’s 73rd birthday that the company “aims to double employment, FDI (foreign direct investment) and company size in India to date”. next year.
He gave no further details.
Foxconn already has an iPhone factory in the state of Tamil Nadu that employs 40,000 people.
In August, the state of Karnataka announced that Foxconn would invest $600 million in two projects in the state to make housing components for iPhones and chip manufacturing equipment.
The company’s chairman, Liu Young-way, said in an earnings release last month that he sees a lot of potential in India, adding: “several billion dollars in investment is just the beginning.”
