May 20 – Foxconn ( FXCOF) is committing 127.74 billion rupees ($1.5 billion) to its India unit as Apple (NASDAQ:AAPL) shifts production out of China.
The investment, routed through Foxconn’s Singapore-based subsidiary, involves the purchase of 12.77 billion shares at 10 rupees each in Yuzhan Technology India, per a London Stock Exchange filing.
India’s share of iPhone shipments rose in March ahead of U.S. tariff threats announced on April 2, according to Counterpoint Research. The move underscores Apple’s efforts to diversify its manufacturing footprint amid ongoing geopolitical tensions.
Separately, India last week approved Foxconn’s plan to build a ?35 billion ($435 million) fabrication plant. Meanwhile, U.S. President Donald Trump has urged CEO Tim Cook to reconsider expanding facilities in India, highlighting the complex balance between trade policy and supply-chain strategy.
This article first appeared on GuruFocus.
