Foxconn Gets Taiwan's Nod for $2.2 Billion Investment in India, US

Taiwanese electronics giant Hon Hai Precision Industry Co., better known as Foxconn, has received regulatory approval for two major investment proposals totalling over $2.2 billion in India and the United States, according to reports on Wednesday.

As per Focus Taiwan, the approvals were granted by the Department of Investment Review under Taiwan's Ministry of Economic Affairs (MOEA), paving the way for the electronics manufacturing leader to expand its global footprint.

The Department has approved a $1.49 billion investment proposal to boost capital in Foxconn Singapore Pte Ltd, a subsidiary of the company. This Singapore-based unit will subsequently channel the funds into Yuzhan Technology (India) Pvt Ltd, another Foxconn-owned entity operating in India.

Last month, Apple iPhone supplier Foxconn announced an investment of $1.48 billion (approximately ₹12,800 crore) in its India operations. The company is currently establishing a manufacturing facility in Sriperumbudur to assemble smartphone display modules, part of Apple’s broader strategy to diversify its component manufacturing supply chain beyond China.

Foxconn is also allocating $735 million from its investment capital to establish a new U.S.-based company named Project ETA (DE) LLC, which will focus on producing data centre modules and assembling servers.

Also Read: FDI Doubles in 10 Years as India Emerges Key Investment Hub