Apple supplier Foxconn to invest $1.5 billion in India unit

Apple supplier Foxconn will invest 1.5 billion rupees in its India unit, the company said in a filing, as the iPhone maker shifts more manufacturing out of tariff-hit China.

Foxconn’s Singapore-based subsidiary will buy 12.77 billion shares worth 10 rupees apiece, amounting to 127.74 billion rupees ($1.50 billion) in Yuzhan Technology India, according to the London Stock Exchange filing.