Foxconn to invest $1.5 billion to give a big push to Apple’s ‘made in India’ plans

One of Apple’s biggest manufacturing partner is Taiwan-based Foxconn Technology and has been heavily involved in India as well. Now, according to a report by CNBC, Foxconn is set to invest $1.5 billion in India for “operational needs”. This was revealed in Taiwanese security filings.

As per the security filings, the investment was made through Hon Hai Technology India Mega Development, a subsidiary of Foxconn, and is registered in Maharashtra since 2015. Foxconn didn’t comment on the details of the investment plans. However, in the last couple of years, Apple has made advancements in assembling iPhones in India and Foxconn has been a big part of it.