Foxconn Pumps $1.48 Billion into Tamil Nadu Unit to Boost iPhone Production

Foxconn, a key Apple supplier, has injected a massive $1.48 billion (approximately ₹12,800 crore) into its Indian subsidiary, Yuzhan Technology (India) Private Limited, over the past five days, signaling a major push to ramp up iPhone manufacturing in India.

The investment, channeled through Foxconn’s Singapore arm, Foxconn Singapore Pte, involved acquiring 9,999 shares at ₹10 each with a premium, culminating in the hefty transaction completed between May 14 and May 19. The Tamil Nadu-based unit is set to play a pivotal role in Apple’s ambitious plans to scale up iPhone production in India.

This move aligns with Apple CEO Tim Cook’s recent announcement that the majority of iPhones sold in the U.S. will be sourced from India starting in the June quarter, while China will focus on supplying other global markets. The shift comes amid uncertainties surrounding tax tariffs.

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India’s growing role in Apple’s supply chain is evident. S&P Global data indicates that iPhone sales in the U.S. reached 75.9 million units in 2024, with India exporting 3.1 million units in March alone. To meet U.S. demand, India may need to double its shipments, either by expanding capacity or redirecting domestic supply.

Sources reveal Apple aims to produce 60 million iPhones in India this fiscal year, with the country currently accounting for 15% of global iPhone output. Foxconn, alongside Tata Electronics and Pegatron India (largely owned by Tata), is driving this manufacturing surge, cementing India’s position as a global tech hub.

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