iPhone Maker Foxconn Invests $37.2 Mn In India Subsidiary
by Anjali Jain · Inc42SUMMARY
- Foxconn noted in filings that the acquisition is a long-term investment funded through private capital, highlighting the contract manufacturer's expansion plans in India
- Foxconn has been investing heavily in its Indian manufacturing plants as part of its 3-3-3 policy, under which it plans to integrate three emerging industries, three core technologies and three smart platforms
- Apple is not only using ‘Made in India’ products for the local market but also exporting them, as it looks to reduce reliance on China and diversify its manufacturing base