Foxconn Announces $1.6 Billion Investment in India Amid Diversification from China

The electronics manufacturer plans to expand its footprint in India, where it already operates multiple production campuses and factories.

Foxconn, the maker of Apple's iPhones, has announced a $1.6 billion investment in India as part of its ongoing diversification from China.
The investment will be used for construction projects, but no further details were provided about the nature of these projects or their locations.
This move comes as Foxconn and other Taiwanese electronics manufacturers continue to diversify their businesses outside China due to rising tensions between Washington and Beijing.
Foxconn already operates nine production campuses and more than 30 factories in India, where it generates around $10 billion in revenue annually.
The company has previously announced plans to double its business size in India and sees the country as having a lot of potential for future growth.