Apple-Supplier Foxconn Promises To Double Workforce, Investment In India

Foxconn, a major supplier for Apple, is looking to significantly boost its presence in India by doubling its workforce and investment within the next year, according to a company executive. The Taiwan-based tech giant, known as the world’s largest contract manufacturer of electronics, has been rapidly increasing its operations in India, investing in manufacturing facilities, particularly in the southern regions of the country, aiming to diversify away from its reliance on China.

In a LinkedIn post commemorating Indian Prime Minister Narendra Modi’s 73rd birthday, V Lee, Foxconn’s representative in India, revealed the company’s ambitious plans: “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by the same time next year. However, specific details regarding this expansion were not provided.

Currently, Foxconn operates an iPhone manufacturing facility in Tamil Nadu, employing a considerable workforce of 40,000 individuals.

In a significant move in August, the state of Karnataka announced Foxconn’s substantial investment of $600 million for two crucial projects within the state. These projects focus on manufacturing casing components for iPhones and chip-making equipment, showcasing the company’s strategic investment plans.

Chairman Liu Young-way emphasised the potential they see in India during an earnings briefing the previous month, stating, “several billion dollars in investment is only a beginning,” underscoring Foxconn’s commitment to further establishing itself within the Indian market.

In a bid to avoid disruption in the process of manufacturing iPhones like last year, Foxconn is also reportedly offering bonuses to employees. Apple is facing renewed competition in China from local tech behemoth Huawei which has just launched its Mate 60 series. 

According to a job posting by Taipei, Taiwan-headquartered Foxconn, its manufacturing facility in Zhengzhou, capital of central Henan province, is offering signing bonuses of 6,480 yuan (which is $880) per person at its Product Enclosure Business Group. Foxconn’s Product Enclosure Business Group oversees mechanical parts for Apple, the report added. The new staffers are expected to help the facility meet demand for Apple’s new products, including the newly unveiled iPhone 15 series.