Last Updated: November 28, 2023, 09:00 IST
Foxconn is betting big on India with more production plans
Taiwan’s Foxconn will invest $1.5 billion in India in its latest expansion plan, the world’s largest contract manufacturer of electronics said on Monday.
BENGALURU: Taiwan’s Foxconn will invest $1.5 billion in India in its latest expansion plan, the world’s largest contract manufacturer of electronics said on Monday.
The company, which announced the investment plan in a stock exchange filing, did not provide any further details.
Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country.
The contract manufacturer aims to double its workforce and investment in India by next year, a company executive had said in September.
The company’s Chairman Liu Young-way had also said in an earnings briefing in August he sees a lot of potential in India, adding that “several billion dollars in investment is only a beginning”.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)