New Delhi— As Taiwan’s Hon Hai Precision Industry Co. Ltd, better known as Foxconn, secures regulatory clearance for a $2.2 billion investment across India and the United States, India’s position on the global manufacturing map is growing stronger. This shift comes as major tech companies increasingly look to diversify their supply chains and reduce dependence on China.
Foxconn received approval from Taiwan’s Ministry of Economic Affairs for two major investment proposals. Of the total, $1.49 billion will go toward increasing capital in Foxconn Singapore Pte Ltd, a subsidiary that will then channel the funds into Yuzhan Technology (India) Pvt Ltd, part of Foxconn’s India operations.
The electronics manufacturing giant has already committed $1.48 billion (approximately ₹12,800 crore) to its India-based ventures, including a new facility in Sriperumbudur for assembling smartphone display modules, further cementing its role as a key supplier for Apple’s iPhone production in India.
India’s growing appeal as a manufacturing destination is largely attributed to business-friendly government policies and bold initiatives such as Make in India and the Production Linked Incentive (PLI) scheme. These efforts have significantly improved the ease of doing business and encouraged foreign investment.
“Between 2014 and 2024, India attracted more than $500 billion in FDI equity inflows — over double the $208 billion recorded in the previous decade,” noted Sanjay Nayar, President of industry body Assocham, in a recent article. “Nearly $300 billion of that came in just the past five years, highlighting India’s rapid growth.”
In 2014, up to 80 percent of smartphones sold in India were imported. Thanks to the PLI scheme, global players like Apple — through partners like Foxconn and Wistron — now assemble iPhones within the country. Smartphone exports have since soared to $21 billion.
Manufacturing-related FDI has also seen a marked increase. In FY 2024–25, inflows rose 18 percent to $19.04 billion, up from $16.12 billion the previous year. Singapore emerged as the top source of FDI with a 30 percent share, followed by Mauritius at 17 percent and the U.S. at 11 percent, according to official government data.
With a strong policy framework and rising investor confidence, India is steadily positioning itself as a global hub for advanced electronics manufacturing and sustainable, high-tech growth. (Source: IANS)
