Foxconn plans to double its employment and investment in India : According to a business executive, Apple supplier Foxconn plans to quadruple its staff and investment in India by next year.
Taiwan-based Foxconn, the world’s largest contract electronics manufacturer, has rapidly increased its footprint in India by investing in production facilities in the country’s south as the business looks to diversify away from China.
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.
He did not provide any other information.
Foxconn already operates an iPhone manufacturing in the Indian state of Tamil Nadu, employing 40,000 workers.
The state of Karnataka announced in August that Foxconn will invest $600 million in two projects in the state to manufacture casing components for iPhones and chip-making equipment.
The company’s Chairman Liu Young-way said in an earnings briefing last month that he sees a lot of potential in India, adding: “several billion dollars in investment is only a beginning”.
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