Foxconn to invest $1.5 billion in its India operations

New Delhi [India], May 20 (ANI): Apple supplier Foxconn is set to invest USD 1.5 billion in its India unit, Reuters reported, citing a company filing.

The iPhone maker has been shifting more manufacturing out of tariff-hit China.

As per the Reuters report, Foxconn’s Singapore-based subsidiary will buy 12.77 billion shares worth 10 rupees apiece, amounting to 127.74 billion rupees (USD 1.50 billion) in Yuzhan Technology India.