Foxconn Bets Big on India: Pumps ₹276 Cr into Apple Production

Taiwanese electronics giant Foxconn has invested Rs 276 crore in new machinery at its India facility to boost production of Apple devices. The company is set to significantly increase iPhone manufacturing in India and plans to start producing Apple AirPods for export at its Hyderabad plant this month. This marks the second Apple product category to be made in India, following iPhones.

In parallel, the Indian Cellular and Electronics Association (ICEA) has suggested eliminating the 15% import duty on mobile phones from the U.S., pointing to an $80 billion mobile phone export opportunity for India.

News by Rahul Yelligetti.