+
Foxconn unit invests $500 million in India affiliate
ECONOMY & POLICY

Foxconn unit invests $500 million in India affiliate

Taiwan's Foxconn, the world's largest contract electronics maker, said that its Singapore unit has acquired 4.08 million shares in Foxconn Hon Hai Technology India Mega Development for $500 million.

The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, with two government officials with knowledge of the matter pointing to a production adjustment as it faces disruptions in China.

Foxconn plans to boost the workforce at its plant in southern India to 70,000 by adding 53,000 more workers over the next two years. The company shared its plans with Tamil Nadu officials about accelerating its hiring efforts at the Indian plant due to disruptions in China, according to a government source, while a person in Taiwan with knowledge of the matter said Foxconn was expanding its operations in India to increase its capacity for basic models and to meet Indian demand.

Formally called Hon Hai Precision Industry Co, Foxconn opened the India plant in 2019 and has been ramping up production. It began producing the iPhone 14 this year. Foxconn, which grabbed headlines in recent weeks for imposing tough Covid-19 restrictions at its Zhengzhou plant in China which resulted in worker unrest, said the facility has lifted its "closed-loop" management curbs.

Also Read
Surety bonds for highway contractors in the offing
Nitin Gadkari approves NH development initiatives in UP and Chhattis..

Taiwan's Foxconn, the world's largest contract electronics maker, said that its Singapore unit has acquired 4.08 million shares in Foxconn Hon Hai Technology India Mega Development for $500 million. The announcement of a $500 million injection into its India unit comes after Reuters reported last month that Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, with two government officials with knowledge of the matter pointing to a production adjustment as it faces disruptions in China. Foxconn plans to boost the workforce at its plant in southern India to 70,000 by adding 53,000 more workers over the next two years. The company shared its plans with Tamil Nadu officials about accelerating its hiring efforts at the Indian plant due to disruptions in China, according to a government source, while a person in Taiwan with knowledge of the matter said Foxconn was expanding its operations in India to increase its capacity for basic models and to meet Indian demand. Formally called Hon Hai Precision Industry Co, Foxconn opened the India plant in 2019 and has been ramping up production. It began producing the iPhone 14 this year. Foxconn, which grabbed headlines in recent weeks for imposing tough Covid-19 restrictions at its Zhengzhou plant in China which resulted in worker unrest, said the facility has lifted its closed-loop management curbs. Also Read Surety bonds for highway contractors in the offing Nitin Gadkari approves NH development initiatives in UP and Chhattis..

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?