India’s growing importance in the global tech manufacturing landscape has found powerful validation as Taiwanese electronics powerhouse Foxconn has significantly increased its long-term asset presence in the country. India now accounts for 11 percent of Foxconn’s global long-term assets, a sharp rise from just 2.6 percent in 2022, according to data from a global financial analytics firm.
This notable expansion follows India’s strategic implementation of the Production-Linked Incentive (PLI) scheme in 2022, a policy crafted to encourage domestic manufacturing of mobile devices. Foxconn, known for assembling Apple’s iPhones, seized the opportunity by scaling up its investments in India and reducing dependency on China, where its asset share dropped from 56.8 percent in 2022 to 49.4 percent by 2024.
The shift is not merely a numerical adjustment—it is a calculated strategic evolution. Against the backdrop of rising global trade tensions and geopolitical uncertainties, Foxconn’s pivot towards India aligns with broader efforts to de-risk supply chains and build resilient manufacturing bases. The tech firm has announced multibillion-dollar investments and has committed to creating employment at scale.
One of the most impactful moves includes a $1.5 billion investment through its subsidiary, Yuzhan Technology India, to bolster its infrastructure in Tamil Nadu—a state fast emerging as a tech manufacturing hub.
Analysts believe this shift is also in harmony with Apple’s ambition to relocate a substantial portion of iPhone production to India, further establishing the country as a critical node in global electronics manufacturing. This evolution not only highlights Foxconn’s commitment but also signals India’s growing stature on the world stage as a centre for innovation, efficiency, and opportunity.
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