Foxconn plans to invest $1.54 billion in India, the latest in its growing expansion plan, following a surge in revenues in the South Asian market.
Foxconn said in a stock exchange filing that the investment will help it fulfil “operational needs.” The investment comes two months after the Taiwanese firm said it plans to double its workforce and investment in India by next year.
Foxconn works with many firms including Apple and assembles their devices in plants in India as many tech giants look to shift part of their manufacturing base to India in a move that analysts describe as “China+1.”
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