Foxconn has big plans for India.

Foxconn Technology Group, a partner of Apple Inc., plans to double its investment and jobs in India.

Foxconn plans to double its operations in India. (Source: Reuters)

In a LinkedIn post on September 17, V Lee, Foxconn's representative in India, stated that Foxconn plans to double its operations in the South Asian country.

Lee said that under this plan, Foxconn will double its number of jobs, foreign direct investment (FDI), and business scale in the world's most populous country.

Foxconn's investment plan, also known as the Hon Hai Precision Industry Co. plant, includes a 300-acre site near the airport in Bengaluru, the capital of Karnataka. The plant is capable of assembling iPhones and is expected to create around 100,000 jobs.

Foxconn's expansion in India suggests that China risks losing its position as the world's largest consumer electronics manufacturer.

Apple and other American brands are seeking alternative locations to China-based suppliers, such as India and Vietnam. This reassessment of global supply chains emerged during the pandemic and the Russia-Ukraine tensions and could reshape how electronics are manufactured globally.

Earlier in August, Foxconn Chairman Young Liu revealed that the company planned to invest “several billion dollars” more in India and begin manufacturing key components for consumer electronics and some electric vehicle parts next year in Karnataka, Telangana, and Tamil Nadu.

Mr. Liu also pointed out that since Foxconn entered India in 2005, its revenue, number of employees, and investment scale have increased exponentially. Currently, the company is mainly engaged in the information and communication technology assembly business.

"In the future, Foxconn will actively implement work in key areas to enhance its competitiveness in India," the Foxconn chairman emphasized.

Source: https://baoquocte.vn/foxconn-ap-u-du-dinh-lon-tai-an-do-242587.html