Foxconn aims to double jobs, investment in India over next 12 months

Published Mon, Sep 18, 2023 · 07:22 AM

Foxconn chairman and CEO Young Liu (left) greets Indian Prime Minister Narendra Modi (centre), during SemiconIndia 2023, at Mahatma Mandir in Gandhinagar, India on July 28, 2023. AFP

APPLE supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.

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.

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 give more details.

Foxconn already has an iPhone factory in the state of Tamil Nadu, which employs 40,000 people.

In August, the state of Karnataka said Foxconn will invest US$600 million for two projects in the state to make casing components for iPhones and chip-making equipment.

Xiaomi supplier to open smartphone plant as India pushes local

While the vast majority of iPhone 15s will come from China, that would be the first time a latest generation, India-assembled device is available on the first day of sale.

Apple to sell made-in-India iPhones on launch day for first time

China has in recent years grown more concerned over data security and has rolled out new laws and compliance requirements for companies.

China bans govt officials from using iPhone for work: WSJ

Having built Foxconn into one of the largest manufacturing companies in the world and a key supplier to Apple, Gou (above) had already handed day-to-day running of the business over to chairman and chief executive officer Young Liu in 2019.

Foxconn founder quits board after launching presidential bid

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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”. REUTERS

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