Foxconn to double workforce, investment in India by ‘this time next year’
Foxconn, Taiwan-based Apple supplier, has said that they are planning to double their investment and workforce in India within the next twelve months, according to V Lee' LinkedIn post on the occasion of Prime Minister Narendra Modi's 73rd birthday. Taiwan-based Foxconn, the world's largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country as the company seeks to move away from China.
Notably, Foxconn already has an iPhone factory in the state of Tamil Nadu, which employs 40,000 people. V Lee, Foxconn's representative in India, in a LinkedIn post to mark Indian Prime Minister Narendra Modi's 73rd birthday, said the company was "aiming for another doubling of employment, FDI (foreign direct investment), and business size in India" by this time next year.
In August this year, Karnataka governments had said that Foxconn has planned to invest $600 million for two projects in the state to make casing components for iPhones and chip-making equipment. Earlier this month, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn) had said, ‘India will be an important country in terms of manufacturing in future’.
In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an "appropriate amount of time in India" and the process will be shorter given the experience. The environment too is not quite the same, he said pointing to the advent of new technologies like AI and generative AI.
Meanwhile, Apple Inc. has announced plans to make the India-built iPhone 15 available in the South Asian country and some other regions on the global sales debut day, according to a
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