In a major move to strengthen its manufacturing base in India, Foxconn, Apple’s primary assembler of the iPhone, has revealed it will invest $1.5 billion (around ₹12,500 crore).
This investment by its Singapore holding subsidiary, would be for “a minority stake and will provide it a footing in India’s growing electronics space, the sources said.”
The investment will go into Yuzhan Technology India, a Tamil Nadu-based unit of the company that assembles smartphone components, mainly for Apple.
This move highlights Apple’s continued push to decentralize its manufacturing of the iPhone out of China in an effort to reduce geopolitical risk and potential tariff exposure.
Recent comments from Apple CEO Tim Cook suggest that most iPhones sold in the US will originate from India by the June quarter this year.
Foxconn’s India shift is reflecting in the rising revenues that it has generated from the country, which has doubled every year to become a $20 billion (about ₹1.7 trillion) business in the year ended March 2025, boosted by the surge in iPhone production.
India currently represents about 15% of world iPhone production, according to government data, and Apple will produce roughly 60 million iPhones for the Indian markets during the current financial year, reports suggest.
This recent investment comes after the Indian authorities gave the green light to a ₹3,700 crore ($432 million) semiconductor assembly and testing plant near Noida to be set up as a joint venture between Foxconn and the HCL Group.
The plant will be for display driver chips — an essential component for smartphones, laptops and cars — and is expected to produce 20,000 wafers monthly.
In addition, Foxconn is constructing a 300-acre iPhone assembly facility in Devanahalli, Karnataka, for which the company is investing $2.56 billion.
It is expected to be one of Foxconn’s biggest globally, behind only its facilities in China, and to manufacture some 100,000 iPhones by December 2025.
It is building dormitories here for a workforce of about 30,000, giving priority to housing for the plant’s many women workers.
These are strategic investments, which reinforce India as a global manufacturing hub for electronics, and Foxconn’s commitment is itself a reiteration of the Government of India’s commitment towards making India an integral part of the global supply chain.