iPhone maker Foxconn to invest $2.2 bn in India, US as it shifts from China

In a significant strategic pivot, Foxconn, the renowned manufacturer of Apple's iPhone, has announced plans to invest $2.2 billion in India and the United States. This move is part of Foxconn's broader initiative to diversify its production capabilities beyond China, amid rising geopolitical tensions and supply chain uncertainties. The investment underscores a growing trend among global manufacturers to explore alternative locations for their operations. India emerges as a key beneficiary of this shift, with Foxconn's investment expected to bolster the country's burgeoning electronics manufacturing sector. The Indian government has already approved a substantial $1.49 billion investment proposal, signaling its commitment to fostering a conducive environment for international businesses. This development aligns with India's "Make in India" campaign, aimed at enhancing local manufacturing and generating employment opportunities. Meanwhile, Foxconn's planned investment in the United States indicates a strategic effort to strengthen its presence in a critical market. By expanding its operations in the U.S., Foxconn aims to mitigate potential trade disruptions and align more closely with American tech companies. This dual investment strategy highlights Foxconn's proactive approach to navigating global economic shifts while ensuring continued growth and resilience in its supply chain network.

— Authored by Next24 Live