If I asked you which country is at the heart of technology, you’d probably say the USA or China. In fact, this answer was correct until recently. However, after the Covid-19 pandemic, another country was added to the list.

Companies, realizing the dangers of relying on a single region for production, started to set up factories in India, which is already a large market for tech giants. One of these companies, Foxconn, has decided to invest $600 million into a phone and chip project in India.

Foxconn’s India Investments Reflect Growing Importance of the India in Global Tech Supply Chain

Foxconn continues to invest in India without slowing down. The company, which has been producing a portion of iPhone and AirPods in the country for some time, is now investing $600 million in India. What’s more, this isn’t just one project, the company has two different projects in mind. The first of these is valued at $360 million and will focus on producing smartphone parts. This single project alone is expected to create 12,000 new jobs in the country.

Foxconn

Also, there’s a second project. Foxconn and Applied Materials are spending $240 million to build a factory for making chip tools, creating 1,000 new jobs. This big investment is part of Foxconn’s plan to spread out its business across the world and make more kinds of products. It also matches India’s goal of bringing more high-tech manufacturing into the country. Foxconn and Applied Materials didn’t provide more details about their projects in India.

However, as we mention above, this is not the first investment for this company in the region. Foxconn previously partnered with an Indian company, Vedanta, to build a chip and display factory in India. But Foxconn left that project last month. We don’t know why the $19.5 billion deal was cancelled. Still, looking at the new investments, we can say that the company’s thoughts about India have not changed and the cancellation did not stem from this.

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