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Foxconn, a Taiwanese manufacturer of Apple products, is about to inaugurate two factories in India. Foxconn Technology Group is reportedly considering investing a total of $500 million, or Rupees 4100 crore, in two facilities in India.

One of these two plants will reportedly be utilized to produce Apple’s iPhones, according to the report. A Foxconn affiliate had earlier in March announced a total investment in Karnataka of $ 972.88 million, or 8,000 crores. Two factories will be established in the southern state of Karnataka, and the company has also made significant investments in two additional southern states, Tamil Nadu and Andhra Pradesh.

Foxconn Chairman Young Liu recently traveled to Bengaluru, Karnataka. He also got to know Narendra Modi, the prime minister. Since 2019, Foxconn has been producing Apple mobile devices in India. In addition to Foxconn, Wistron, and Pegatron are other Indian manufacturers of Apple products.

Apple supplier Foxconn is planning to invest nearly $500 million to build two component factories in India as part of a steady diversification from China https://t.co/ms1J3Xjmya
— Bloomberg (@business) July 31, 2023

Taiwan has started to bolster its semiconductor defence as China’s navy retreats from its shores. In this case, authorities could put pressure on Foxconn to cancel the $ 800 million contract it had with a Chinese chipmaker. Hon Hai Precision was the previous name for Foxconn. Taiwan is also attempting to prevent its finest engineers from becoming trapped in Chinese enterprises on the mainland.

Taiwan chip deal with Chinese company

When it was discovered that a subsidiary of the world’s largest manufacturer of contract electronics owned a 20% investment in China’s former chip king Tsinghua Unigroup, the company was put on high alert. According to Reuters, the official is facing a fine of $8,36,000 for failing to obtain the required licenses, and Taiwan’s Investment Commission, which evaluates significant acquisitions in China, has expressed its unhappiness.

Know why the tension was increased

Increasing tensions with Beijing as a result of Speaker of the US House of Representatives Nancy Pelosi’s recent travel to Taiwan in August have put the accord in peril. Along with placing limitations on agricultural exports, China, which claims Taiwan, has conducted a number of military exercises surrounding the island nation.

Tag: Foxconn

Foxconn will soon open two factories in India, will invest Rs 4100 crore

Amidst tensions, Taiwan can give a big blow to China in the chip deal, may cancel the $ 800 million chip deal