Foxconn, the manufacturer of iPhones, plans to invest Rs. 18,935 crore in India and the United States as it transitions away from China.

Taiwan-based Hon Hai Precision Industry Co., commonly referred to as Foxconn, has obtained regulatory approval for two significant investment initiatives amounting to over Rs. 18,935 crore (US$ 2.20 billion), with a substantial portion dedicated to India. As reported by Taiwan’s Ministry of Economic Affairs, Foxconn plans to invest Rs. 12,824 crore (US$ 1.49 billion) via its Singapore subsidiary into Yuzhan Technology (India) Pvt Ltd to enhance its operations in India, solidifying the nation’s position as a vital hub for iPhone production. Additionally, the company intends to allocate Rs. 3,228 crore (US$ 375 million) to create a new entity based in the United States focused on server assembly and data center module protection. These advancements occur in the context of escalating trade tensions between the US and China, which are prompting Foxconn to hasten its strategy for diversification outside of China. With its expanding electronics manufacturing landscape and advantageous production-linked incentives (PLI), India is becoming an attractive destination. Shipments of iPhones made in India to the US saw a significant rise in early 2025, with Foxconn exporting 97% of units produced locally, an increase from 50% in 2024, totaling Rs. 27,542 crore (US$ 3.2 billion) between March and May 2025. In the face of political pressure from the President of the United States, Mr. Donald Trump, to return manufacturing to American soil, Foxconn reaffirmed its intention to expand a new component facility near Chennai with an investment of Rs. 12,911 crore (US$ 1.5 billion). On a global scale, Foxconn runs 223 factories and offices dispersed across 24 countries, including 12 each in India and Europe.