Foxconn Invests Rs 125 Bn to Expand India Operations

22 May 2025 CW Team

Hon Hai Precision Industry Co., better known as Foxconn and the main assembler of Apple’s iPhones, is strengthening its footprint in India with a fresh investment of USD 1.5 billion (around Rs 125 billion) into its local subsidiary. The funding, channelled through Foxconn’s Singapore-based arm, was disclosed in a regulatory filing and is set to fast-track the company’s manufacturing expansion in southern India.

This strategic move is part of Apple’s ongoing effort to diversify its global supply chain and reduce its dependence on China, amid rising trade tensions and tariff threats between the US and China. Industry sources indicate that Apple plans to shift a significant portion of iPhone production for the US market to India, potentially making India the primary export hub by the end of next year.

The development has drawn criticism from former US President Donald Trump, who recently commented that he had asked Apple CEO Tim Cook “to stop building plants there,” in reference to his push to bring manufacturing and jobs back to the US.

Despite such objections, Apple’s manufacturing transition is progressing steadily. In the 12 months ending March, Apple assembled iPhones worth USD 22 billion (approximately Rs 1.83 trillion) in India—a nearly 60 per cent rise from the previous year. Much of this production takes place at Foxconn’s large facility in southern India, complemented by Tata Group’s electronics arm and Pegatron’s local operations.

Foxconn is also expanding its operations in the US to manage geopolitical risks, while Apple has pledged to invest USD 500 billion in the US over four years and increase domestic hiring. However, Apple currently does not manufacture any smartphones in the United States.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..