Foxconn to invest over $1.5 billion in India; Chinese engineers sent to train workers this year: Report

According to a report, Apple supplier Foxconn will invest more than $1.5 billion (about Rs 12,500 crore) in India as the company looks to expand production of Apple’s iPhone in the country. The move comes a year after the Taiwanese firm’s factories in China were negatively impacted by the country’s strict COVID-19 restrictions in 2022. The company reportedly sent Chinese engineers to India earlier this year to train workers at its factory to improve efficiency.

cnbc reports According to the security filing, Foxconn will invest more than $1.5 billion (about Rs 12,500 crore) in the budget for “construction projects to meet the company’s operational requirements” in the country. According to reports, the investment worth crores of rupees will be made through its subsidiary Hon’ble High Technology India Mega Development.

Foxconn’s representative in India said in September that the company was aiming to double its investment and workforce in India by 2024 as it looks to diversify its production outside China. iPhone assemblers were badly hit last year when Chinese lockdowns related to the coronavirus pandemic disrupted manufacturing and output for weeks.

The company currently employs around 40,000 people at its iPhone factory in Tamil Nadu Chinese engineers blew up at its iPhone manufacturing plant in Tamil Nadu to improve production, Rest of the World reports. The company planned to manufacture iPhone 15 units in India in time so that they could be shipped along with units made in other regions on launch day.

While Foxconn has achieved high levels of efficiency in China, the company’s Tamil Nadu plant was hit by a higher proportion of defective units and the more expensive cost of materials – resulting in lower profits from the factory than its counterparts in China, according to the report which comes from two Citing people close to the company.

In the coming months, Foxconn will compete with Tata Group as the Indian tech conglomerate recently completed the acquisition of Wistron’s Indian unit. While the Tata Group was already producing components used in some iPhone models, the acquisition of Wistron India will allow the company to partner with Pegatron, Luxshare and Foxconn to assemble iPhone models in India.

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