12:35 - 28.11.2023

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November 28, Fineko/abc.az. Foxconn, Apple's largest contract partner, plans to invest more than $1.5 billion in a construction project in India to meet its "production needs".

ABC.AZ reports that Foxconn is already engaged in several projects in India, including plants in the states of Karnataka and Telangana.

Foxconn's investment plans in India became known from documents sent by the company to regulatory authorities on Monday.

According to the documents, the $1.541 billion investment will be made through Foxconn's subsidiary, Hon Hai Technology India Mega Development, registered in Maharashtra state in 2015. It also states that the subsidiary will send an equivalent amount in Indian rupees for implementation of a construction project to meet "production needs".