Apple supplier Hon Hai commits $1.5 bn to India as iPhone exports soar

Hon Hai Precision Industry Co., the main assembler of Apple’s iPhones, has committed $1.5 billion to its Indian subsidiary, according to a report by The Economic Times. The investment was made through its Singapore-based unit, according to a stock exchange filing on Monday (May 19).

The funds are expected to support Hon Hai’s ongoing expansion in southern India, where it is building new facilities and increasing production capacity. The company has not yet provided further details.