Foxconn to invest $1.5 billion in India to meet Apple supplier 'operational needs'
Global Finance
2023-11-29 17:58:24
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Foxconn is going to invest in India again。Less than four months after its last exit from India, Foxconn has spent another $1.5 billion to build a new plant in India.。Is Foxconn, which has withdrawn its capital for a while and expanded for a while, looking for a way out for itself??I think the high probability of their operation is also due to Apple's backing.。Although Foxconn has fallen out of favor in the field of contract manufacturing in the past two years, it is still Apple's largest contract manufacturer and is reluctant to place large orders from Apple.。And Apple had already planned to take the iphone17 production line out of China and leave it to India to start research and development to help India expand its production capacity.。So Foxconn's new plant in India is essentially to meet the operational needs of Apple suppliers.。I don't think we can underestimate India, which is backed by the United States to enjoy the cool.。But India is really a magical land, the ten billion subsidy plan announced the year before last to draw so many pie for foreign companies, to now have not spent a penny。But even so, there are still many companies to seek cooperation。In fact, Foxconn has already opened a number of investment projects in India in addition to the planned new plant.。So for many companies, India is a growing market, and everyone is eager to get a piece of it.。But it may be because of too much favor, India has been a bit of a drift in the past two years, but be wary of the fact that India to undertake the industrial transfer of refraction is the United States to neutralize the long-term strategy, Apple's expansion in the Indian market corresponds to the shrinking of China's production lines.。In the past four years, India's exports to the United States have increased by 44%, while China's exports to the United States have declined by 10%, so don't underestimate India。
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