Foxconn to Invest $1.5 Billion in India to Meet 'Operational Needs'
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On November 28, Apple supplier Foxconn Technology announced it will invest over $1.5 billion in a construction project in India to meet the company's 'operational needs'.
Disclosed information shows this $1.541 billion investment was made through Foxconn's subsidiary Hon Hai Technology India Mega Development. Other details were not disclosed.
Foxconn stated this new investment comes months after the company exited a $19.5 billion semiconductor joint venture in India by 'mutual agreement.' Foxconn added it remains 'confident' about India's semiconductor industry ambitions.