Foxconn Unveils $2.2 Billion Plan for India, US Manufacturing Hubs

27-Jun-2025

Key Takeaways

Foxconn has received approval for over $2.2 billion in new overseas investments.
Around $1.49 billion will support its Indian operations through Yuzhan Technology.
A separate $735 million will fund a new server and data center unit in Illinois.
India’s Production Linked Incentive Scheme allocations for electronics, auto, and textiles have been significantly raised.

Big Boost for India’s iPhone Production

Foxconn, Apple’s main iPhone manufacturer, just cleared a major hurdle in its plan to widen its production base outside China. Taiwan’s Ministry of Economic Affairs signed off on a capital injection of nearly $1.5 billion into Foxconn Singapore Pte Ltd. This funding flows directly into Yuzhan Technology (India) Pvt Ltd, deepening Foxconn’s roots in India.

Work is already underway at its Sriperumbudur site, where a new factory is coming up to produce smartphone display modules. The goal is ambitious: turn out up to 30 million iPhones in India this year — more than double last year’s number. Apple wants about a quarter of its global iPhone output to come from India by mid-2026.

New U.S. Data Center Project

Alongside its India push, Foxconn is setting up a fresh foothold in the United States. A separate $735 million has been earmarked for Project ETA (DE) LLC, an Illinois-based venture that will build equipment for data centers and handle server assembly. This new unit adds to Foxconn’s existing footprint of 223 sites across 24 countries.

Government Incentives Fuel Expansion

India’s push to grow local manufacturing is getting a sizable lift through its Production Linked Incentive Scheme. For 2025-26, budget allocations have seen a jump across priority sectors. Electronics and IT hardware funding will grow from about Rs 5,777 crore to Rs 9,000 crore. Automobiles and auto parts get a bump from roughly Rs 346 crore to Rs 2,818 crore, while textiles funding is set to rise from Rs 45 crore to over Rs 1,100 crore.

This incentive plan, in place since 2020, has attracted global manufacturers by tying payouts to clear production and sales goals — a big draw for companies like Foxconn that want scale and cost benefits.

Other Taiwanese Firms Also Expand

Foxconn isn’t alone in this new wave of outbound investments. Cathay United Bank will put $160 million into its Ho Chi Minh City branch to expand lending. AUO Mobility Solution Corp. is cleared to invest $20 million for automotive displays in Xiamen. Royal Seal Holding Co. will pour $3.29 million into cancer treatment services in Taiwan.

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