Overview

• 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.