Foxconn plans $1.5B investment to expand India operations

The world’s largest contract electronics manufacturer (CEM) Foxconn recently announced investment  plans worth $1.5 billion to expand its footprint in India. The Taiwan-based CEM, which announced the investment plan in a stock exchange filing, did not provide any further details.

Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country. The CEM aims to double its workforce and investment in India by next year, a company executive had said in September. Foxconn Chairman Liu Young-way said he sees a lot of potential in India, adding that “several billion dollars in investment is only a beginning,” in an earnings briefing issued by the firm in August.