TAIPEI: Taiwanese tech giant and key Apple supplier Foxconn said Monday (Aug 14) it sees the potential to invest 'several billion dollars' in India, with the firm looking to diversify its manufacturing away from China. Foxconn - also known by its official name Hon Hai Precision Industry - is the world's bi
TAIPEI: Taiwanese tech giant and key Apple supplier Foxconn said Monday it sees the potential to invest"several billion dollars" in India, with the firm looking to diversify its manufacturing away from China.
It operates in more than two dozen countries but the bulk of its operations is based in China - a dependence it is looking to reduce, with media reports of major investments in India. Foxconn in May announced the purchase of a huge tract of land on the outskirts of Indian tech hub Bengaluru for US$37 million.
The company is planning to expand its India operations to"critical components" for consumer electronics and electric vehicles to boost its competitiveness, he said, without giving more details.
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